VanadiumCorp Closes First Tranche of $1 Million Private Placement
VANCOUVER, BRITISH COLUMBIA – October 1, 2014 – VanadiumCorp Resource Inc. (TSX- V: “VRB”) (the “Company”) wishes to announce that it has applied to the TSX Venture Exchange (the “Exchange”) for acceptance to amend the terms of an aggregate of 16,000,000 common share purchase warrants (the “Warrants”) issued pursuant to a non-brokered private placement (the “Private Placement”) which closed on October 21, 2013. The Warrants originally issued are exercisable into common shares in the capital of the Company at an exercise price of
$0.10 per common share, with the Warrants expiring on October 21, 2014. These Warrants will be amended by extending the expiry date of the Warrants to October 21, 2018. No Warrants issued under the Private Placement have been exercised to date. The amendment to the terms of the Warrants is subject to Exchange approval.
VanadiumCorp is a rapidly growing strategic metals company with projects in Quebec, Canada. VanadiumCorp has the vision to be the first primary producer of Vanadium in North America. The current growth strategy is focused on development of its most advanced project in mining friendly Quebec, Canada, the Lac Dore project. This project encompasses the Lac Dore deposit that is subject to over $20M of completed work, a completed NI 43-101 report and is directly adjacent to a projected $600M CAPEX development. The Lac Dore deposit has the potential supply and scale for North America to make vanadium-strengthened steel and vanadium batteries, a reality for years to come. VanadiumCorp is targeting production of metallurgical grade Vanadium Pentoxide as well as high purity Vanadium chemicals for the battery industry. Regarded as a “super metal,” vanadium is the number-one steel strengthener in the world and is internationally acclaimed as the “ultimate energy storage solution.” The Lac Dore Project, coupled with the Company’s Iron-T Vanadium-Titanium-Iron Project positions VanadiumCorp at the forefront of global Vanadium exploration and development. VanadiumCorp’s experienced management and technical teams are dedicated to project development and building shareholder value.
For further information, contact Adriaan Bakker, President and Chief Executive Officer or Tim Halyk, Business Development at 604-385-4485 or email@example.com
Neither the TSX Venture Exchange nor it’s 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.