VRB:CC - VanadiumCorp Announces Private Placement to Raise $800,000 for Electrolyte Production
(TheNewswire)
Vancouver, British Columbia –TheNewswire – February 26, 2025 – VanadiumCorp Resource Inc.(TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the"Company"). The Company is pleased toannounce a non-brokered private placement financing (the“Financing”) of up to $800,000.
The Financing will consist of:
7,272,727 units (“Units”) priced at $.11 per unitfor gross proceeds of up to $800,000. Each Unit will consist of onenon-flow-through common share of the Company and one purchase warrantto acquire an additional common share at $0.15 for a period of threeyears.
The Company may pay finders’ fees in cash andwarrants bearing the same terms as the Unit warrants. All sharesissued pursuant to the Financing and any shares issued through theexercise of warrants will be subject to a four-month hold from theclosing date. The Financing is subject to TSXV Exchangeapproval.
The financing proceeds will be used for workingcapital, the production and sale of vanadium electrolyte, theengineering of a second plant, and the company's general corporatepurposes.
VanadiumCorp's President Kristien Davenport stated,"This small financing will bring our initial pilot plant backinto production. Further, we can continue the engineering work forour second plant, which we estimate will produce up to 4,000,000litres of electrolyte annually once it is commissioned. This willenable VanadiumCorp to provide Canadian electrolyte to the globalVanadium Flow Battery industry.”
About VanadiumCorp ResourceInc.
VanadiumCorp Resource Inc. is engaged in the productionof high-quality vanadium electrolytes for the expanding internationalmarket for long-duration Vanadium Flow Batteries (VFB). The Company'spilot plant facility is based in Val-des-Sources, Québec. The Companyis also advancing technologies for the production of the strategicV-Ti and potentially high-grade Fe located at its vanadiferoustitanomagnetite projects, including at its flagship Lac Doré depositnear Chibougamau, Québec. The successful deployment of thesetechnologies would enable stable, long-term access to the Company’sdeposits of critical metals, including vanadium feedstock for theproduction of electrolyte by the Company.
On behalf of the Board ofVanadiumCorp Resource Inc.
“Kristien Davenport”President and Director
VANADIUMCORP RESOURCES INC.
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. produces a high-quality stream of vanadiumelectrolyte catering to the expanding international market forlong-duration Vanadium Redox Flow Batteries (VRFB). The Company'sinitial manufacturing facility is located in Val-des-Sources, Québec.The procurement of stable, long-term access to vanadium feedstock forelectrolyte production is assured, contingent upon the successfuldevelopment of the Company’s wholly-owned vanadium-titanium-ironmineral deposits, particularly the flagship Lac Doré deposit situatednear Chibougamau, Québec. Moreover, the electrolyte plant will servethe dual purpose of evaluating the quality of the outputs from the LacDoré pilot plant as well as facilitating the reprocessing ofelectrolytes.
Company contact information: 3 ruede Boisé,
Marieville, Québec J3M 1S7 Canada
Email: info@vanadiumcorp.com
Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider(as defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain forward-looking statements (including"forward-looking information" within the meaning ofapplicable Canadian securities laws and "forward-lookingstatements" within the meaning of the US Private SecuritiesLitigation Reform Act of 1995) regarding, among other things,VanadiumCorp's business. and the environment in which it operates. Ingeneral, forward-looking statements can be identified by the use ofwords such as "anticipates", "expects" or"does not expect", "is expected","budget", "forecast", "estimates","forecasts", "intends", "anticipates" or"does not anticipate", or "believes", orvariations of such words and phrases or statements that certainactions, events or results "may", "could","would", "could" or "will be taken","occur" or "will be achieved". VanadiumCorp relieson a number of assumptions and estimates to make these forward-lookingstatements, including, without limitation, the ability to acquire thenecessary permits and authorizations to advance the Lac Doré propertyto the production stage, the ability to add to existing resources atLac Doré through drilling, the costs associated with the developmentand operation of its properties. These assumptions and estimates aremade in light of forecasts and conditions that are considered relevantand reasonable based on available information and currentcircumstances. A number of risk factors may cause actual results,level of activity, performance or results of such exploration and/ormine development to differ materially from those expressed or impliedby such forward-looking statements, including, without limitation,whether such discoveries will result in commercially viable quantitiesof such mineralized materials, the ability to modify projectparameters as plans continue to be refined, the ability to executeplanned future exploration and drilling programs, the need foradditional financing to continue exploration and development efforts,changes in general economic, market and business conditions, and otherrisks outlined in VanadiumCorp's latest Annual Information Form underthe heading "Risk Factors" and in its other publicdocuments. Forward-looking statements are not guarantees of futureperformance and such information is inherently subject to known andunknown risks, uncertainties and other factors that are difficult topredict and that may be beyond VanadiumCorp's control. AlthoughVanadiumCorp has attempted to identify important risks and factorsthat could cause actual actions, events or results to differmaterially from those described in the forward-looking statements,there may be other factors and risks that cause actions, events orresults not to be as anticipated, estimated or intended. Accordingly,undue reliance should not be placed on these forward-lookingstatements. In addition, all forward-looking statements in this pressrelease are made as of the date of this press release. VanadiumCorpdisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by applicablesecurities laws.
The forward-looking statements contained herein are expresslyqualified by this disclaimer.
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