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Vanadiumcorp Resource Inc
Symbol VRB
Shares Issued 309,251,120
Close 2020-12-31 C$ 0.12
Recent Sedar Documents

Vanadiumcorp arranges $500,000 private placement

2020-12-31 20:49 ET - News Release

Mr. Adriaan Bakker reports

VANADIUMCORP ARRANGES $500,000 PRIVATE PLACEMENT

Vanadiumcorp Resource Inc. has arranged a non-brokered private placement of up to five million non-flow-through units at a price of 10 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 15 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 is an integrated technology company with strategic vanadium mining assets focused on commercializing green technologies to both recover vanadium electrolytes sustainability and harness the further environmental benefit of their perpetual use in vanadium redox flow battery (VRFB) systems. The environmental friendliness of proven VRFB technologies complement and upgrade the efficiencies of the green and low generation cost of renewable energies. VRFBs represent the most sustainable energy storage option to facilitate replacing fossil fuels in many applications and ability to feed energy surpluses back into the grid at times when the performance of renewable energy sources are low or energy is cost prohibitive. Vanadiumcorp also wholly owns a significant vanadium-titanium-iron-bearing resource base in mining-friendly Quebec, Canada, including the flagship Lac Dore project adjacent to Blackrock Metals Inc. and the Iron-T project near the Glencore (Bracemac-McLeod) Matagami copper-zinc mine.

The company also announces it has granted 2.6 million incentive stock options to a director the company.

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