Mr. Kristien Davenport reports
VANADIUMCORP ANNOUNCES NON-BROKERED $700,000 PRIVATE PLACEMENT
Subject to the approval of the TSX Venture Exchange, Vanadiumcorp Resource Inc. intends to complete a non-brokered private placement of up to
$700,000
through the issuance of
units priced at 12 cents per unit.
Financing terms
The offering will consist of up to
5,833,333 units
at a price of
12 cents per unit, with each unit comprising: one common share of the company; and one common share purchase warrant, with each warrant exercisable to acquire one additional common share of the company at a price of
22
cents for a period of
24 months
from the date of issue.
The company may accelerate the expiry date of the warrants to 30 days if, after the expiration of the four-month hold period, the company's common shares trade at or above 50 cents for 10 consecutive trading days.
Subject to exchange approval, the company will close a first tranche of the financing, issuing
3,983,333 units
for aggregate gross proceeds of
$446,133.
Use of proceeds
The net proceeds of the offering will be used to advance the company's Quebec mineral portfolio and continuing technological development initiatives, including:
-
Iron-T project
-- exploration and evaluation work to further define titanium-vanadium mineralized zones;
-
Lac Laura project
-- early stage exploration, sampling and geological assessment;
-
Lac Dore Vanadium project
-- continued resource advancement and project development activities;
-
Vanadium electrolyte production
-- continued development, testing and product certification at the company's emerging vanadium electrolyte platform;
-
General working capital and corporate purposes.
Closing and regulatory matters
All securities issued under the offering will be subject to a statutory hold period of
four months plus one day
from the date of issuance.
The offering may involve eligible finders, with finders' fees payable in accordance with applicable policies of the TSX Venture Exchange.
Looking ahead
Vanadiumcorp remains focused on strategically advancing its critical mineral projects to accelerate renewable energy development. With a strengthening investment case for North American vanadium production, the company's diversified portfolio offers multiple pathways for long-term value creation.
About Vanadiumcorp Resource Inc.
Vanadiumcorp Resource is a Canadian critical mineral exploration company focused on developing vanadium-rich assets in Quebec. Its flagship Lac Dore vanadium project offers high-purity vanadium with excellent recoveries, ideal for energy storage applications. The company has also built an electrolyte pilot plant in Val-des-Sources, Que., designed to test extracted vanadium materials and support future commercial production of vanadium electrolyte for vanadium redox flow batteries (VRFBs). With vanadium and titanium designated as critical minerals in both Canada and the United States, Vanadiumcorp is aligned with national strategies to strengthen domestic supply chains.
We seek Safe Harbor.
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