VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA, August 13, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) has arranged a non-brokered private placement of up to 1,400,000 flow-through common shares at a price of $0.07 cents per share for total proceeds of up to $98,000. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. Proceeds from the placement will be utilized for advancing the 100% owned Lac Dore Vanadium Project in Chibougamau, Quebec, Canada.
The private placement is subject to approval by the TSX Venture Exchange. The Company may pay finders fees in connection with the private placement in accordance with the policies of the TSX Venture Exchange.
VanadiumCorp 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 owns 100% of two of the most coveted, undeveloped primary vanadium-rich magnetite resources rich in iron and titanium. The company has also co-developed process technology that can unlock maximum metal value with renewable energy from most vanadium bearing feedstocks as well as flow battery technology that can utilize vanadium indefinitely. VanadiumCorp’s key vanadium mining assets are located in mining-friendly Quebec, Canada including the 100% owned Lac Doré Project adjacent to Blackrock Mining Inc. and the 100% owned Iron-T Project located near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.
On behalf of the board of VanadiumCorp:
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.