VanadiumCorp wishes to announce a Cease Trade Order (CTO) has been issued by the British Columbia Securities Commission (BCSC)), as principal regulator, as a result of the Company’s failure to file its annual audited financial statements for the year ended October 31, 2020.
– VanadiumCorp Resource Inc. (TSX-V: VRB) (“the Company”), as result of a review of the Company’s news release dated April 14, 2015 by the Investment Industry Regulatory Organization of Canada (“IIROC”), issued this news release to clarify & retract certain disclosure from the aforementioned news release. The news release referenced the technical report titled “NI 43-101 Technical Report: Lac Dore Vanadium Project with First Resource Estimate Complete” dated April 13, 2015 (the “Report). The Company is retracting disclosure to any reference to mining, mining rate, milling rate, mine life, recoverable vanadium, total recoverable vanadium, pit ratio and any other reference that were calculated from the resource estimate that would imply the technical feasibility and/or economic viability of the project from this disclosure. This is a requirement of disclosure in a “mining study” that meets the definition of a preliminary economic assessment (PEA), preliminary feasibility study (PFS) or feasibility study (FS), which study is currently under preparation. The Report does not satisfy the definition of any of these documents.
With the resource estimate complete, the Company is currently working on a preliminary economic assessment (PEA) as its next stage of development with a full budget outlined in the Report.
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.