VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA, December 14th, 2018 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) and its Board of Directors are pleased to announce the following corporate updates.
Management’s recommendations approved by shareholders at the AGM
All of Management’s resolutions submitted to shareholders at the Company’s Annual General Meeting (“AGM”) held on September 28th, 2018 were approved. Increased shareholder engagement was clearly demonstrated by a record number of shares cast along with 89 shareholders and duly appointed proxy holders present or represented at the meeting.
Mr. Adriaan Bakker, Mr. John Hewlett, Mr. Stephen Pearce, and Mr. Sokhie Puar have all been re-elected and elected to the Board of Directors with overwhelming support. The Secretary advised that all the nominees have consented to act as directors for the ensuing year.
The Company welcomes Mr. Sokhie Puar to the board of VanadiumCorp
Mr. Puar has over 30 years of experience in the public markets and has worked in various capacities with companies in the mining, oil and gas, technology, education, and clean energy sectors since 2001. Most recently, Mr. Puar held positions of CEO, President, Director, and Chairman of Candelaria Mining Corp. raising over $28 million and leading the acquisition of several mining projects in Mexico. Mr. Puar holds a diploma in Mechanical Engineering Technology and a diploma in Business Administration from the British Columbia Institute of Technology. Mr. Puar sits and has sat on boards of many public and private companies including the board of Governors of Southpointe Academy, an independent school located in Tsawwassen, B.C., where he Chaired the Governance Committee.
Stock Option Update
The Company has granted 10,500,000 incentive stock options to directors and officers of the Company and 2,400,000 to employees and consultants of the Company at a price of $0.10 per share exercisable for a period of five years.
VanadiumCorp Resource Inc. plans to develop VEPT in Canada and co-license the VEPT for targeted global jurisdictions to directly recover battery-grade vanadium products, Vanadium ElectrolyteTM, and coproducts such as iron and titanium from many sources irrespective of oxidation and deleterious elements such as silica. Jointly developed and owned with Electrochem, this innovative chemical process allows for integrated and low carbon footprint recovery of critical metals needed on a global scale from vanadiferous titanomagnetite “VTM”, magnetite, hematite, and ilmenite as well as steel slags, calcine, and oil residues. VanadiumCorp also holds a significant vanadium-titanium-iron bearing resource base in mining-friendly Quebec, Canada.
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: firstname.lastname@example.org
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.