09:41:04 EDT Sat 15 May 2021
Enter Symbol
or Name

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Vanadiumcorp Resource Inc
Symbol VRB
Shares Issued 299,251,120
Close 2020-11-13 C$ 0.06
Recent Sedar Documents

Vanadiumcorp arranges $500,000 financing

2020-11-13 19:53 ET - News Release

Mr. Adriaan Bakker reports


Vanadiumcorp Resource Inc. has arranged a non-brokered private placement of up to 10 million non-flow-through units at a price of five cents for gross proceeds of up to $500,000. Each unit will consist of one common share of the company and one share purchase warrant. Each share purchase warrant can be exercised at a price of 10 cents for a period of 24 months from the date of closing in exchange for one common share in company. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. Proceeds from the placement will be utilized for general working capital.

The private placement is subject to approval by the TSX Venture Exchange.

Vanadiumcorp Resource plans to develop its 100-per-cent-owned Lac Dore vanadium-titanium-iron flagship project adjacent to Blackrock Metals Inc. property, which is currently permitted to build a mine and mill to produce a vanadium-rich magnetite concentrate product. Vanadiumcorp provides investors with leverage to vanadium, titanium and iron in the low-political-risk and geopolitically stable jurisdiction of Quebec, Canada. Superior vanadium grades, size and well-developed infrastructure with the nearby mining town of Chibougamau are a valuable strategic position to take advantage of the strong vanadium market driven by supply shortages and growing demand from the Chinese steel industry, as well as the fast-emerging use of vanadium in energy storage. Nearby infrastructure includes a 161-kilovolt hydro power at approximately two cents per kilowatt-hour, a CN rail line, available water, a local airport and a mining community of over 7,000 people in the city of Chibougamau. The company is also developing its jointly owned Vanadiumcorp-Electrochem processing technology (VEPT), a novel chemical process invented by Dr. Francois Cardarelli, which addresses the recovery of vanadium, iron, titanium and silica from feedstocks such as vanadiferous titano-magnetite, iron ores and other industrial byproducts containing vanadium.

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