VANCOUVER, BRITISH COLUMBIA – May 23, 2017 – Vanadiumcorp Resource Inc. is pleased to announce it has closed the 2nd tranche of the over subscribed non-brokered private placement of 9,000,000 units at a price of CDN $0.06 cents per unit for a total of CDN $540,000. Each unit shall consist of one common share of the issuer and one full share purchase warrant. Each full warrant will entitle the holder to acquire one common share of the issuer at a price CDN $0.10 for a period of 24 months following the closing date of the offering. 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 patent pending Vanadiumcorp-Electrochem process technology, trial Vanadiumcorp ElectrolyteTM and electrolytic iron production and operating capital. No fees or commissions were paid in association with the private placement.
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: 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.