Mr. Roger Shook, investor, reports
NEWS RELEASE -- EARLY WARNING
Roger Shook and Samuel Chen have filed an early warning report in connection with the issuance by Vanadiumcorp Resource Inc. to Mr. Shook and Mr. Chen of an aggregate of nine million units of Vanadiumcorp at a price of six cents per unit. Each unit consists of one common share and one common share purchase warrant. The units were acquired by Mr. Shook and Mr. Chen pursuant to a previously disclosed $660,000 private placement by Vanadiumcorp.
Combined with previous holdings, Mr. Shook and Mr. Chen hold 25,744,143 shares and 14,257,143 warrants. The 25,744,143 shares represent approximately 11.7 per cent of Vanadiumcorp's current issued and outstanding share capital. Should Mr. Shook and Mr. Chen exercise all of the warrants, they would hold shares representing approximately 17.1 per cent of Vanadiumcorp's then issued and outstanding share capital, calculated on a partially diluted basis assuming the exercise of the warrants only. A copy of the early warning report filed by Mr. Shook and Mr. Chen may be found under Vanadiumcorp's profile on SEDAR.
Mr. Shook and Mr. Chen acquired the units for investment purposes only. They may acquire additional securities of Vanadiumcorp, may exercise some or all of the warrants, or may sell some or all of the shares now held by them from time to time in the future.
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