VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA – September 15, 2016 – Vanadiumcorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce several developments towards its objective of vanadium electrolyte production.
Lac Dore Preliminary Economic Assessment (PEA) Upon advice of IOS Geoscientifiques Inc., the planned timeline for completion of the PEA is being extended to incorporate additional processing considerations.
Enscitech Waste Ash Vanadium Electrolyte (WAVE) Project – VanadiumCorp news is pending regarding this low cost, near term production project.
Société Plan Nord Delegation VanadiumCorp has accepted an exclusive invitation to join The Société du Plan Nord (Plan Nord) delegation at Mines & Money Americas, Toronto on September 26-28, 2016. Plan Nord was relaunched by the Quebec government in 2014 with a mandate to provide public and private investment of C$50 billion over 20 years. Plan Nord’s mandate is focused on projects located north of the 49th parallel of Quebec, Canada. http://www.plannord.gouv.qc.ca/en/
New Vanitec Energy Storage Committee (ESC) formed and will host its’ inaugural meeting during the 91st Vanitec Meeting in London, UK, October 11-12, 2016 that VanadiumCorp and its partners will attend. The new committee was formed recently by Vanitec coinciding with the worlds largest battery in construction announced in Dalian, China this year. (vanadium technology) Vanitec sees the development of the Vanadium Redox Battery as a key component of the future and wishes to bring together VRFB developers, electrolyte producers, suppliers, and vanadium industry contacts. The focus of ESC is to identify the future global vanadium demand, the quality required and OH&S guidelines surrounding electrolyte production and distribution ESC will report to the Vanitec Market Development Committee and will oversee developments in the energy industry market for vanadium. Vanitec is a not-for-profit international organization whose objective is to promote the use of vanadium bearing materials. Its members include all the world’s major vanadium producers. www.vanitec.org
Vanadium Electrolyte Process Partnership (VEPP) Partners include academia, energy storage companies, government organizations, vanadium industry professionals and independent contractors. www.vepp.org
VanadiumCorp Partnerships Global energy company Schmid Energy GmBH, Enscitech and VanadiumCorp’s leading North American vanadium battery partners are focused on development and integration of high purity vanadium supply with proven VRFB technology. VanadiumCorp is working diligently with its partners with the common goal of developing stable, competitively priced vanadium electrolyte (VE) as there is no primary supply available worldwide.
Importance of Vanadium – Vanadium’s role in the growing energy storage is expected to increase dramatically in coming years. In 2016, large scale deployments of VRFBs began across the globe, with many others being planned or under construction. Development of stable supply of high purity vanadium is critical for this superior energy storage technology.
Global inventory of vanadium continues to decrease, as demand continues to increase. The Largo-Glencore project in Brazil and the Rhovan-Glencore project in South Africa are the only vanadium mines left in production in the downturn of the steel industry. New vanadium supply is expected to supplement the traditional markets for vanadium as the requirements for high quality steel continue to increase.
Recent vanadium report release regarding vanadium supply from Terry Perles, Advisor of VanadiumCorp is available below.
Vanadium Redox Batteries (VRB, VFB, VRFB) are emerging as the technology of choice for grid energy storage and renewable energy. VRFBs offer longer life cycle to competing technologies, scalability, superior safety, unlimited capacity and utilize 100% reusable battery material. www.vanadiumcorp.com
On behalf of the board of VanadiumCorp:
Adriaan Bakker, President and Chief Executive Officer
For more information, contact VanadiumCorp:
John Hewlett, Director, Business Development
By phone: 604-560-8251
By email: email@example.com
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.
Cautionary Note – The information in this news release includes certain “forward-looking statements” All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company’s properties, statements regarding intentions with respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Mineral resources that are not mineral reserves do not have demonstrated economic viability. This preliminary assessment is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the preliminary assessment will be realized. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from VRB’s expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and local groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. VRB’s forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. VRB assumes no obligation to update the forward looking statements if management’s beliefs, opinions, projections, or other factors should they change.