VanadiumCorp Rolls Back Shares on a 10:1 Basis
TSX-V: “VRB”
VanadiumCorp Rolls Back Shares on a 10:1 Basis
VANCOUVER, April 13, 2022 - VanadiumCorp Resource Inc. (TSX-V: "VRB") (the "Company") announces that effective Monday April 18, 2022 the common shares of Vanadiumcorp Resource Inc. will commence trading on TSX Venture Exchange on a consolidated basis of 1 (one) post-consolidation share for every 10 (ten) pre-consolidation shares (the “Consolidation”).
The Board of Directors believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.
The Company currently has 319,251,120 common shares issued and outstanding; following the Consolidation the Company will have approximately 31,925,112 common shares issued and outstanding, and will continue to trade under the existing stock symbol “VRB.V”.
The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
ON BEHALF OF THE BOARD OF VANADIUMCORP.
Paul McGuigan, P. Geo Director, Interim Chief Executive Officer Website: www.vanadiumcorp.com
About VanadiumCorp
VanadiumCorp Resource Inc. is a mineral exploration company located in Vancouver, Canada, with 100% ownership in the lac Dore Vanadium, Iron and Titanium Project, located 27 km east-southeast from the city of Chibougamau in Quebec, as well as the Iron T, VTM deposit in Matagami. VanadiumCorp. Also owns 100% of a novel hydrometallurgical process, VEPT (VanadiumCorp, Electrochem, Process technology) invented by Dr. Francois Cardarelli, that consists of digesting vanadiferous feedstocks into concentrated sulfuric acid. The technology addresses the recovery of vanadium pentoxide, vanadyl sulphate, ferrous sulphate, titanium hydrolysate, and silica from feedstocks such as vanadiferous totano-magnetite, iron ores, and concentrates such as magnetite and hematite, vanadium industrial wastes such as BOF-slags, and other industrial by-products also containing vanadium.
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.