VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA, May 21, 2019 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce the appointment of Mr. Marc Kok to the Board of Directors of VanadiumCorp.
“We are pleased to welcome Marc to VanadiumCorp’s Board of Directors” stated Adriaan Bakker, the Company’s President, and Chief Executive Officer. “Marc brings a wealth of experience and established networks in engineering, construction, and integration of energy storage and renewable energy sectors. His aligned vision with VanadiumCorp is to combine the best resources, technologies, expertise, and end-users to establish the complete value chain required to mass commercialize vanadium based energy storage globally.”
Mr. Kok is the founder and current CEO of Redo Holding B.V.B.A., in Nazareth Belgium which operates two subsidiary companies in Germany:
- Forschungsinstitut Redoflow GMBH is developing and commercializing redox flow battery systems.
- Privates Forschunsginstitut Power Storage GMBH which develops lithium-ion Battery systems.
VanadiumCorp Resource Inc is an integrated technology and mining Company focused on developing the exclusive supply chain for vanadium-based energy storage and emerging technologies that utilize vanadium. VanadiumCorp is focused on commercializing the most efficient and sustainable recovery method to produce vanadium with jointly developed process technology. VanadiumCorp also holds a significant vanadium-titanium-iron bearing resource base in mining-friendly Quebec, Canada including the 100% owned Lac Dore Project adjacent to Blackrock Metals Inc. and the 100% owned Iron-T Project near the Glencore Matagami (Zinc-Copper) Mine.
Vanadium Redox Flow Batteries (VRFB, VRB) are containerized, long duration, non-flammable, compact, reusable over infinite cycles, and last more than 20 years. Most batteries use two chemicals that change valence (or charge or redox state) and cross-contaminate and thus degrade over time. VRBs utilize multiple valence states of vanadium as a single element to store and release charge. VRBs consists of two tanks of vanadium electrolyte that flow adjacent to each other past a membrane and generate a charge by moving electrons back and forth during charging and discharging. This battery offers unlimited energy capacity simply by using larger electrolyte storage tanks. It can be left completely charged for long periods without losing power and maintenance is much simpler than other batteries. The unique advantage to separate power and energy also provides significant advantages over competing technologies. With sustainably produced VanadiumCorp ElectrolyteTM, the carbon footprint of the VRB is remarkably low.
On behalf of the board of VanadiumCorp:
President and Chief Executive Officer
For more information contact:
President and CEO, VanadiumCorp Resource Inc. (TSX-V: “VRB”)
By phone: 604-385-4489
By email: firstname.lastname@example.org
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