VRB:CC - Vanadiumcorp Receives Critical Metals Financing from Prima Quebec
(TheNewswire)
Vancouver, British Columbia andVal-des-Sources, Québec – TheNewswire - July 31, 2023– VanadiumCorp Resource Inc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) (“VanadiumCorp” or the "Company”) is pleased toannounce that the Company has received a grant of $500,000 to supportthe development of its vanadium electrolyte production plant inVal-des-Sources, Québec. The grant from PRIMAwill help ensure that the Company’s production process will bestate-of-the-art and will contribute to an environmentally friendlycircular economy.
The financial assistance comes from the support programfor research and development for the circular economy applied to thesectors of critical and strategic minerals of the Ministry of NaturalResources and Forests of Québec, which is administered by PRIMAQuébec.
The Company’s new production facility will operate inpartnership with Carrefour d'innovation sur les matériaux de la MRCdes Sources (CIMMS), and is expected to be in production in early2024. It will produce high-quality vanadium electrolyte for use invanadium redox flow batteries (VRFB). VFRBs are the new generation oflong-duration batteries that are currently being deployed around theworld to support the storage of renewable energy.
Gilles Dupuis, P. Eng., the Chief Operating Officer ofthe Company, said “This assistance is another demonstration of thetremendous leadership of the Government of Québec in supporting thedevelopment of new battery technologies and manufacturing. This willhelp put vanadium from Québec on the world’s green energymap.”
“Vanadium electrolyte produced in Québec willbecome a key component in the international battery industry. Supporting this development in Québec will help diversify ourindustrial base and contribute to the establishment of a circulareconomy”, said Marie-Pierre Ippersiel, President and CEO ofPRIMA Québec.
About PRIMA Québec
PRIMAQuébec, the Advanced Materials Research and Innovation Hub, supportsand facilitates the advanced materials ecosystem by promotingcollaborative innovation for the economic development ofQuebec. It is theprivileged catalyst between the industrial and research communities. www.prima.ca
About VanadiumCorp ResourceInc.
VanadiumCorp Resource Inc. will produce a reliablestream of high-quality vanadium electrolytes for the expandinginternational market for long-duration vanadium redox flow batteries(VRFB). The Company's first electrolyte production facility is basedin Val-des-Sources, Québec. Stable, long-term access to vanadiumfeedstock for the electrolytes is assured, success-contingent ondeveloping our wholly-owned vanadium-titanium-iron mineral deposits,including our flagship Lac Doré deposit near Chibougamau, Québec. The Company’s electrolyte plant will also be used to test thequality of Lac Doré pilot plant outputs and to reprocesselectrolytes.
An introduction to the Company by our ExecutiveChairman, Ian Mallory, can be viewed as a Greenshoe Media Group videoat:
On behalf of the Board ofVanadiumCorp Resource Inc.
Paul McGuigan, P.Geo.
CEO
Company addresses:
Suite 303 - 5455 West Boulevard
Vancouver, British Columbia V6M 3W5
Canada
3 rue de Boisé,
Marieville, Québec J3M 1S7
Canada
Email: info@vanadiumcorp.com
Company website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S.PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESSRELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TOPURCHASE ANY SECURITIES DESCRIBED IN IT.
Forward-Looking Statements
This document maycontain forward-looking statements (including "forward-lookinginformation" within the meaning of applicable Canadian securitieslaws and "forward-looking statements" within the meaning ofthe US Private Securities Litigation Reform Act of 1995) regarding,among other things, VanadiumCorp's business. and the environment inwhich it operates. In general, forward-looking statements can beidentified by the use of words such as "anticipates","expects" or "does not expect", "isexpected", "budget", "forecast","estimates", "forecasts", "intends","anticipates" or "does not anticipate", or"believes", or variations of such words and phrases orstatements that certain actions, events or results "may","could", "would", "could" or "willbe taken", "occur" or "will be achieved".VanadiumCorp relies on a number of assumptions and estimates to makethese forward-looking statements, including, without limitation, theability to acquire the necessary permits and authorizations to advancethe Lac Doré property to the production stage, the ability to add toexisting resources at Lac Doré through drilling, the costs associatedwith the development and operation of its properties. Theseassumptions and estimates are made in light of forecasts andconditions that are considered relevant and reasonable based onavailable information and current circumstances. A number of riskfactors may cause actual results, level of activity, performance orresults of such exploration and/or mine development to differmaterially from those expressed or implied by such forward-lookingstatements, including, without limitation, whether such discoverieswill result in commercially viable quantities of such mineralizedmaterials, the ability to modify project parameters as planscontinue to be refined, the ability to execute planned futureexploration and drilling programs, the need for additional financingto continue exploration and development efforts, changes in generaleconomic, market and business conditions, and other risks outlined in VanadiumCorp's latest Annual Information Formunder the 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 to predict and that may be beyondVanadiumCorp's control. Although VanadiumCorp has attempted toidentify important risks and factors that could cause actual actions,events or results to differ materially from those described in theforward-looking statements, there may be other factors and risks thatcause actions, events or results not to be as anticipated, estimatedor intended. Accordingly, undue reliance should not be placed on theseforward-looking statements. In addition, all forward-lookingstatements in this press release are made as of the date of this pressrelease. VanadiumCorp disclaims any intention or obligation to updateor revise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required byapplicable securities laws.
The forward-looking statements contained herein areexpressly qualified by this disclaimer.
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