19:58:43 EDT Fri 11 Jul 2025
Enter Symbol
or Name
USA
CA



Vanadiumcorp Resource Inc (3)
Symbol VRB
Shares Issued 9,974,465
Close 2024-12-30 C$ 0.16
Market Cap C$ 1,595,914
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Vanadiumcorp Resource closes $295,400 private placement

2024-12-31 10:21 ET - News Release

Mr. Ian Mallory reports

VANADIUMCORP CLOSES FLOW-THROUGH PRIVATE PLACEMENT FINANCING

Further to its Dec. 19, 2024, news release, Vanadiumcorp Resource Inc. has closed its non-brokered flow-through unit private placement financing for aggregate gross proceeds of $295,400.

The company has issued 1,846,250 16-cent flow-through units, with each FT unit consisting of one flow-through common share of the company and one non-flow-through common share purchase warrant exercisable to purchase one non-flow-through common share of the company for 20 cents for three years from the date of issue.

The company will use an amount equal to the gross proceeds received by the company from the sale of the FT units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada), on or before Dec. 31, 2025, and to renounce all the qualifying expenditures in favour of the subscribers of the FT units effective Dec. 31, 2024.

All securities issued pursuant to the financing are subject to a four-month hold from the date of issue.

The company has paid cash finders' fees totalling $18,648 and issued 116,550 16-cent non-transferable brokers' warrants to three finders, in accordance with TSX Venture Exchange policies.

Net proceeds from the financing will be used for exploration and metallurgical testing on the company's wholly owned mineral properties.

The company's previously announced non-brokered private placement of up to 5,333,333 15-cent non-flow-through units for aggregate gross proceeds of up to $800,000 remains open.

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource is engaged in the production of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium flow batteries (VFB). The company's pilot plant facility is based in Val-des-Sources, Que. The company is also advancing technologies for the production of the strategic vanadium-titanium and potentially high-grade iron located at its vanadiferous titanomagnetite projects, including at its flagship Lac Dore deposit near Chibougamau, Que. The successful deployment of these technologies would enable stable, long-term access to the company's deposits of critical metals, including vanadium feedstock for the production of electrolytes by the company.

Chief operating officer and director Gilles Dupuis, PEng, is the qualified person (as defined in National Instrument 43-101) who has reviewed this news release.

We seek Safe Harbor.

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