As a result of the board of PacificOre Mining Corp.'s failure to call a shareholders "meeting as soon as it can," coupled with its application to the registrar in Victoria to extend the deadline to hold its annual general meeting until Aug. 30, 2013, the concerned shareholders advise that they have requisitioned a shareholders meeting under Section 167 of the Business Corporations Act (British Columbia).
VANCOUVER, BRITISH COLUMBIA, October 25, 2019 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce that further to its news release dated October 21, 2019, it has completed the first tranche of its non-brokered private placement. Pursuant to the first tranche, the Company issued 12,138,461 flow-through common shares at a price of $0.065 for gross proceeds of $789,000. Proceeds will be utilized for advancing the 100% owned Lac Dore Vanadium Project in Chibougamau, Quebec, Canada and for general working capital.
The shares issued are subject to resale restrictions expiring on February 24, 2020. In connection with the first tranche, the Company paid a total of $63,120 in cash as finder’s fees.
The Company is proceeding with the second tranche consisting of 7,000,000 units at a price of $0.05 per unit.
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 (Bracemac-McLeod) Matagami Copper-Zinc Mine.
On behalf of the board of VanadiumCorp:
President and Chief Executive Officer
For more information:
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.