VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA – June 18, 2014 – Vanadiumcorp Resource Inc. (TSX-V: VRB) (the “Company”) and its Board of Directors are pleased to report that all of Management’s resolutions submitted to shareholders at the Company’s Annual General Meeting (“AGM”) held on June 13th, 2014 were approved. Increased shareholder engagement was clearly demonstrated by a record number of shares cast along with more than two dozen shareholders in attendance.
Mr. Adriaan Bakker, Mr. Stephen Pearce, Mr. Paul Sorbara, Mr. John Hewlett and Mr. Tom Peregoodoff have all been re-elected to the Board of Directors with overwhelming support. During the AGM, Mr. Bakker and Lac Dore Project Manager, Mr. Rejean Girard provided those in attendance with a detailed update of the Lac Dore Project which was followed by a question and answer session. Adriaan Bakker, CEO states, “VanadiumCorp’s directors are very pleased to have again received a strong mandate from its shareholders. The Company will soon release its first National Instrument 43-101 Technical Report (“NI 43-101”) for its Lac Dore Project. Compiled by IOS Geoscientifique from Quebec, (“IOS”) it articulates the rich history of geological work completed on the Property spanning 60 years. Completed in a format that illustrates and highlights all areas of value from the prior work including 8 different historical, non NI 43-101 compliant, resource estimations. The NI 43-101 provides the Company with a firm foundation and enables the development and execution of its future development plans. The imminent public release of our NI 43-101 will be followed by associated developments and we intend to provide regular updates to shareholders as we move forward.”
VanadiumCorp has a vision to become the lowest cost, primary producer of Vanadium. The current growth strategy is focused on development of its most advanced project in mining friendly Quebec, Canada, the Lac Dore Project. The Lac Dore Project, coupled with the Company’s Iron-T Vanadium-Titanium-Iron Project clearly establishes VanadiumCorp at the forefront of North American Vanadium exploration and development.
The Company wishes to announce that it has granted 1,000,000 incentive stock options to a director and 600,000 incentive stock options to employees and consultants of the Company at a price of $0.10 per share exercisable for a period of five years
The technical contents of this release were approved by Mr. Rejean Girard, P.Geo. a qualified person as defined by National Instrument 43-101.
FOR MORE INFORMATION CONTACT:
Adriaan Bakker, President, CEO
By phone: 604-385-4489
By email: email@example.com
On behalf of the board:
President and Chief Executive Officer
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.