VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA – December 15, 2014 – Vanadiumcorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. As a followup to the news releases of June 24, 2014 and July 4, 2014, the Company triggered a requirement to amend and refile its Lac Dore NI-43-101 Technical Report in support of the previous disclosure to comply with all aspects of the NI 43-101 National Instrument. The technical report as originally filed was not compliant with NI 43-101 and the form43-101F1.
Given the disclosure issues amended within the technical report, management of VanadiumCorp feels confident with subsequent disclosure and the next phase underway, the Lac Dore resource calculation. Related announcements of Lac Dore project development are now pending.
VanadiumCorp is a rapidly growing strategic metals company with projects in Quebec, Canada. VanadiumCorp has a vision to be the first primary producer of Vanadium in North America. The current growth strategy is focused on development of its most advanced project in mining friendly Quebec, Canada, the Lac Dore project. This project encompasses the Lac Dore deposit that is subject to over $20M of completed work, a completed NI 43-101 report and is directly adjacent to a projected $600M CAPEX development. The Lac Dore deposit has the potential supply and scale for North America to make vanadium-strengthened steel and vanadium batteries, a reality for years to come. VanadiumCorp is targeting production of metallurgical grade Vanadium Pentoxide as well as high purity Vanadium chemicals for the battery industry. Regarded as a “super metal,” vanadium is the number-one steel strengthener in the world and is internationally acclaimed as the “ultimate energy storage solution.” The Lac Dore Project, coupled with the Company’s Iron-T Vanadium-Titanium-Iron Project positions VanadiumCorp at the forefront of global Vanadium exploration and development. VanadiumCorp’s experienced management and technical teams are dedicated to project development and building shareholder value.
(This release was approved by Mr. Rejean Girard, P. Geo. Mr. Girard is a qualified person as defined by National Instrument 43-101.)
FOR MORE INFORMATION CONTACT:
Adriaan Bakker, President and Chief Executive Officer – Direct: 604-385-4485
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.