Western Magnesium Corporation announced a non-brokered private placement of 12,000,000 units at a price of $0.25 per unit for gross proceeds of $3,000,000 on April 18, 2022. Each Unit will consist of one share in the Common share and one share purchase warrant, with each warrant entitles the holder to purchase one common share for a period of twelve months at a price of $0.45. The transaction is subject to approval TSX Venture Exchange.

The securities issued will be subject to a statutory hold period in Canada for a period of four months and one day from the closing date.