Mr. Adriaan Bakker reports
VANADIUMCORP PRIVATE PLACEMENT INCREASED TO $1M
Vanadiumcorp Resource Inc. has increased the size of its previously announced private placement (see press release dated Dec. 31, 2020) to 10 million units at a price of 10 cents per unit for total gross proceeds of $1-million.
Each unit is composed of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of two years at an exercise price of 15 cents.
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 is an integrated green technology company with strategic vanadium mining assets focused on commercializing disruptive technologies to both recover vanadium electrolytes sustainably and harness the further environmental benefit of their perpetual use in next-generation vanadium redox flow battery (VRFB) systems. The environmental friendliness of proven VRFB technologies complement and upgrade the increasing efficiencies of renewable energy. VRFBs represent the most sustainable energy storage option to facilitate replacing fossil fuels in many applications and the ability to feed energy surpluses back into the grid at times when the performance of renewable energy sources is low or energy is cost prohibitive. Vanadiumcorp also wholly owns one of the largest and metallurgically favourable vanadium resource base in the world, located in mining-friendly Quebec, Canada.
© 2021 Canjex Publishing Ltd. All rights reserved.