VanadiumCorp is pleased to announce a non-brokered flow-through financing of up to $1 million and non-flow-through financing of up to $3 million for a total aggregate of up to $4 million. And announces new Quebec director.
VANCOUVER, BRITISH COLUMBIA – January 3, 2017 – Vanadiumcorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce that Mr. Denis Bouchard has joined the advisory board of VanadiumCorp. Mr. Bouchard’s experience within the mining and steel sector is inclusive of both financial and political networks.
Mr. Bouchard currently works for Beauce Atlas, located in Sainte-Marie de Beauce, Quebec, which specializes in the fabrication and installation of structural steel in the commercial, industrial and institutional sectors. Beauce Atlas has operated for over 35 years establishing its name in the mining and industrial sectors. Beauce Atlas will be considered for budget pricing for the structural steel required aspects of the Company’s intended vanadium electrolyte “VE”, iron and titanium mine near Chibougamau, Quebec. These aspects include the magnetite crusher and concentrator. Beauce Atlas recently completed a data center in Quebec Canada with a ~$100M CAPEX for a European client that utilized ~6,000 tonnes of structural steel. This data center is equipped with a required large scale battery storage system for their computers.
Among many grid level applications, vanadium redox batteries (VRFB, VRB) are ideally suited for the growing demand of data centers for safe, reliable clean energy that never degrades. The surge in data center market growth is attributed to the increasing demand for clean energy to lower electricity consumption and carbon emissions. In 2015, the Americas dominated the data center market. The trend is expected to continue for new and existing data centers to incorporate renewable clean energy with energy storage solutions. Amazon recently announced Montreal, Quebec, Canada for their next data center. Google also announced it will power 100 percent of its data centers and offices in 2017 with renewable energy. Data centers represent a significant opportunity for VRFB technology.
Mr. Bouchard’s work within the mining industry and the contacts he has developed will promote the Lac Dore Vanadium Project progress. Mr. Bouchard has both provincial and federal government contacts, as well as various financial institutions, pension funds, and para-governmental organizations. Mr. Bouchard has had a personal and serious interest in the Vanadium Deposit in Lac Dore stemming back to 1997 as a strategic initial investor in the project.
Adriaan Bakker, CEO of VanadiumCorp states, “Mr. Bouchard’s professional background and personal interest for developing the Lac Dore project make him a strong addition to the VanadiumCorp Advisory board. The diversity of his background will enhance the current advisory team and continue to support the progress and development of Lac Dore as well as the Company’s vision of becoming a primary producer of vanadium electrolyte”
VanadiumCorp and its global VRFB partners are developing a vertically integrated and direct “ground supply to VRFB technology” process flowsheet for it’s 100% owned vanadium projects in Quebec, Canada. VanadiumCorp aims to disrupt the current supply chain with a direct environmentally friendly process. Distinguishing features of VanadiumCorp magnetite are low silica, low impurities and no superficial oxidation. Quality largely dictates purification cost of VE required by VRFBs. Lac Dore VE purity of 99.9% was previously demonstrated in 2002 pilot plant at SGS Lakefield, Ontario. Utilizing clean energy to produce 100% reusable battery material will be featured in the Company’s pending preliminary economic assessment “PEA” on the Company’s 100% owned Lac Dore Vanadium Project in Quebec, Canada.
Vanadium Redox Batteries (VRFB, VRB) 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.
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
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