VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, January 21, 2019 /CNW/ – 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 13,418,699 common share purchase warrants (the “Warrants”) issued pursuant to a non-brokered private placement (the “Private Placement”) which closed on April 8, 2017. 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 April 8, 2019. These Warrants will be amended by extending the expiry date of the Warrants to April 8, 2020. In addition, each Warrant will have an accelerated expiry clause such that upon the Company’s shares trading at or above $0.09 for 10 consecutive trading days, Vanadiumcorp will give notice within 7 calendar days that the Warrants will expire 30 days from the date of providing such notice. 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.
The Company has granted 9,500,000 incentive stock options to directors and officers of the Company and 2,400,000 to employees and consultants of the Company at a price of $0.07 per share exercisable for a period of five years.
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: firstname.lastname@example.org
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.