Western Uranium (OTCQX: WSTRF) issues 1.35M options at CA$0.90 strike

Rhea-AI Filing Summary

Western Uranium & Vanadium Corp. reported an unregistered issuance of equity-linked compensation by granting an aggregate of 1,350,000 stock options to officers, directors, and employees under its Incentive Stock Option Plan. The options were granted on January 15, 2026 with an exercise price of CA$0.90, based on closing prices from the two prior trading days and the pricing of units in Western’s most recent private placement.

Each option allows the holder to purchase one common share for a five-year term starting from its vesting date. The options vest in three equal installments on January 31, 2026, July 31, 2026, and January 31, 2027. Western also issued a news release on January 16, 2026 announcing this grant, which is attached as an exhibit.

false 0001621906 0001621906 2026-01-15 2026-01-15 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the  

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 15, 2026

WESTERN URANIUM & VANADIUM CORP.

(Exact Name of Registrant as Specified in its Charter)

Ontario, Canada		000-55626		98-1271843
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5 Church Street, Toronto, Ontario, Canada		M5E 1M2
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (970) 864-2125

N/A

(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

☒ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.02. Unregistered Sales of Equity Securities.

Western Uranium & Vanadium Corp. (“Western”) has granted an aggregate of 1,350,000 stock options (“Options”) to purchase common shares to a number of officers, directors, and employees of Western under the Company’s Incentive Stock Option Plan. The Options were granted on January 15, 2026 and with the exercise price being set at CA$0.90 based upon the closing prices on the two trading days prior to the grant date, and the pricing of units offered in the most recent private placement conducted by Western. Each option is exercisable to acquire one common share for a five-year term starting with the vesting date. The Options vest equally in three instalments: January 31, 2026, July 31, 2026, and January 31, 2027.

Item 8.01. Other Events.

On January 16, 2026, Western issued the accompanying news release, which announced the grant of stock options described above in Item 3.02. The news release is filed herewith as an exhibit.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
99.1		News release dated January 16, 2026
104		Cover Page Interactive Date File (embedded within the inline XBRL documents)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 16, 2026	WESTERN URANIUM & VANADIUM CORP.
	By:	/s/ Robert Klein
		Robert Klein Chief Financial Officer

2

FAQ

What equity compensation did Western Uranium & Vanadium (WSTRF) disclose in this 8-K?

Western Uranium & Vanadium disclosed that it granted an aggregate of 1,350,000 stock options to officers, directors, and employees under its Incentive Stock Option Plan.

What is the exercise price and term of the new Western Uranium (WSTRF) stock options?

The granted stock options have an exercise price of CA$0.90 per common share and each option is exercisable for a five-year term starting from its vesting date.

How do the Western Uranium (WSTRF) stock options vest?

The options vest in three equal installments on January 31, 2026, July 31, 2026, and January 31, 2027, after which each vested option is exercisable for common shares.

How was the CA$0.90 exercise price for Western Uranium (WSTRF) options determined?

The exercise price of CA$0.90 was set based on the closing prices on the two trading days prior to the grant date and the pricing of units offered in Western’s most recent private placement.

Did Western Uranium & Vanadium (WSTRF) issue a news release about the stock option grant?

Yes. On January 16, 2026, Western issued a news release announcing the stock option grant, and that news release is included as Exhibit 99.1.

Under which item of Form 8-K did Western Uranium (WSTRF) report the stock option grant?

The stock option grant was reported under Item 3.02. Unregistered Sales of Equity Securities of the Form 8-K.