VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA, March 28th, 2018 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce that Electrochem Technologies & Materials Inc. (“Electrochem”) has begun commercial production at its facilities in Boucherville (Quebec) Canada of all-vanadium equimolar electrolyte solutions directly from vanadium pentoxide purchased on the market by using an electrochemical process. Production is now performed on-demand using Electrochem’s proprietary VRFBEX unit and know-how.
“The key competitive advantage of Electrochem’s VRFBEX electrochemical technology relies on the company know-how and proprietary manufacture of industrial electrodes reducing significantly the capital expenditure and vanadium electrolyte production costs. The positive feedback received from our end users confirms our business decision. Hence, future licensees of the VanadiumCorp-Electrochem Processing Technology (“VEPT”) could benefit from the vertical integration of Electrochem’s exclusive technology by purchasing a cost-effective alternative compared to other commercial equipment providers. This add-on process will allow converting electrochemically large tonnages of vanadium pentoxide from the VEPT into vanadium electrolyte.” says Francois Cardarelli, President of Electrochem Technologies & Materials Inc.
VanadiumCorp Resource Inc. plans to co-develop VEPT in Canada and co-license the VEPT for targeted global jurisdictions to directly recover battery-grade vanadium precursors for preparing the Vanadium ElectrolyteTM and coproducts such as ferrous sulfate and titanium dioxide from many sources. Jointly developed and owned with Electrochem, this innovative chemical process allows for integrated and low carbon footprint recovery of vanadium needed on a global scale from vanadiferous titanomagnetite “VTM”, magnetite, hematite 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.
Electrochem Technologies & Materials Inc. (www.electrochem-technologies.com) is a private Canadian Corporation that currently owns twenty-four patents worldwide on proprietary chemical, metallurgical and electrochemical technologies that are innovative, and sustainable. Commercially, the company manufactures industrial electrodes, recycles rare earths, and produces tantalum, tungsten chemicals and vanadium electrolyte at its production facilities in Boucherville, Qc.
VEPT: The jointly owned “VanadiumCorp-Electrochem” Process Technology (“VEPT”) describes a novel chemical process invented by Dr. Francois Cardarelli that addresses the recovery of vanadium, ferrous sulfate, titanium dioxide, and silica from vanadiferous feedstocks such as titano-magnetite, iron ores, and concentrates, wastes and other industrial by-products containing vanadium. For downloading the International PCT Patent Application go to https://goo.gl/N8pPfU
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
Francois Cardarelli, President & Owner
Electrochem Technologies & Materials Inc.
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.