First Vanadium Announces Insider Participation in Private Placement
First Vanadium Announces Insider Participation in Private Placement
May 24, 2019 ‐ Vancouver, British Columbia – First Vanadium Corp. (TSX‐V: FVAN) (OTCQX®: FVANF)
(FSE: 1PY) (“First Vanadium” or the “ Company”) is pleased to announce that c ertain directors, officers
and close associates of the Company have collectively sold 908, 000 shares of the Company through the
facilities of the TSX Venture Exchange, and will use the net pr oceeds of the sales to subscribe in the non‐
brokered private placement financing announced in the Company’s news release dated May 21, 2019.
The subscription of Units to insiders pursuant to the private pl a c e m e n t i s c o n s i d e r e d t o b e a r e l a t e d
party transaction subject to Multilateral Instrument 61‐101. The Company intends to rely on exemptions
f r o m t h e f o r m a l v a l u a t i o n a n d m i n o r i t y s h a r e h o l d e r a p p r o v a l r e quirements provided under sections
5.5(a) and 5.7(a) of Multilateral Instrument 61‐101 on the basi s that participation in the private
placement by insiders will not exceed 25% of the fair market va lue of the Company’s market
capitalization.
About First Vanadium Corp.
First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko
C o u n t y , 6 m i l e s s o u t h f r o m t h e t o w n o f C a r l i n , N e v a d a o n H i g h w ay I ‐ 8 0 . T h e C a r l i n V a n a d i u m P r o j e c t
hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike
length of approximately 1,800 me tres, width averaging 600 metre s and thickness ranging from 15
metres to 50 metres. The Company announced its maiden resource February 27, 2019.
ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(778) 655‐4311
www.firstvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward‐looking information
Certain statements in this news release constitute "forward‐loo king" statements. These statements relate to future events or
the Company's future performance and include the Company’s abili t y t o m e e t i t s o b l i g a t i o n s u n d e r t h e A c c e s s a n d M i n e r a l
Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium project, the proposed sale
of shares by insiders and their subsequent participation in the Company’s private placement offering. All such statements
involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from
those expressed or implied by such forward‐looking statements. Forward‐looking statements involve significant risks and
uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accura te
indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a
number of factors and risks. Although the forward‐looking statements contained in this news release are based upon what
management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot
assure investors that actual results will be consistent with th ese forward‐looking statements. The forward‐looking statements
contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update
or revise any forward‐looking statements whether as a result of n e w i n f o r m a t i o n , f u t u r e e v e n t s o r o t h e r w i s e , e x c e p t a s
required under applicable securities regulations.