Vanadiumcorp Announces Flow-Through and Non Flow-Through Private Placement Financing
VANADIUMCORP ANNOUNCES FLOW-THROUGH AND
NON FLOW-THROUGH PRIVATE PLACEMENT FINANCING
Vancouver, British Columbia - 19 December 2024 – VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA)
(OTC: VRBFF) ("VanadiumCorp" or the "Company") is pleased to announce the Company has filed documents
with the TSX Venture Exchange ("TSXV") seeking approval of its non-brokered private placement financing (the
"Financing").
On receipt of approval from the TSXV, the Company will issue up to 3,125,000 $0.16 flow-through units (the "FT
Units") and 5,333,333 $0.15 non-flow-through units (the "NFT Units") for aggregate gross proceeds of up to
$1,300,000.
Each FT Unit consists of one (1) flow-through common share of the Company and one (1) non-flow-through
common share purchase warrant (the "FT Warrants"), with each FT Warrant exercisable to purchase one non-
flow-through common share of the Company for $0.20 for three years from the date of issue.
Each NFT Unit consists of one (1) common share of the Company and one (1) common share purchase warrant
(the "Warrants"), with each Warrant exercisable to purchase one common share of the Company for $0.20 for
three years from the date of issue.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT
Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration
expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act
(Canada) (the “Qualifying Expenditures”) on or before December 31, 2025, and to renounce all the Qualifying
Expenditures in favor of the subscribers of the FT Units effective December 31, 2024.
All securities issued pursuant to the Financing are subject to a four-month hold from the date of issue.
The Company may pay Finder’s fees in accordance with TSXV policies.
Net proceeds from the Financing will be used for exploration and metallurgical testing on the Company's wholly-
owned mineral properties and general corporate purposes.
The Company is also pleased to announce that Kristien Davenport has been appointed as President of the
Company.
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. is engaged in the production of high-quality vanadium electrolytes for the
expanding international market for long-duration Vanadium Flow Batteries (VFB). The Company's pilot plant
facility is based in Val-des-Sources, Québec. The Company is also advancing technologies for the production of
the strategic V-Ti and potentially high grade Fe located at its vanadiferous titanomagnetite projects, including at
its flagship Lac Doré deposit near Chibougamau, Québec. The successful deployment of these technologies would
enable stable, long-term access to the Company’s deposits of critical metals, including vanadium feedstock for
the production of electrolytes by the Company.
Chief Operating Officer and Director Gilles Dupuis, P. Eng. is the qualified person (as defined in NI 43-101) who
has reviewed this news release.
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On behalf of the Board of VanadiumCorp Resource Inc.
Ian Mallory
Chairman and CEO
Phone: +1.514.416.1749
Company contact information:
3 rue du Boisé,
Marieville, Québec J3M 1S7 Canada
Email: [email protected] Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY
SECURITIES DESCRIBED IN IT.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within the meaning of applicable
Canadian securities laws and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995)
regarding, among other things, VanadiumCorp's business. and the environment in which it operates. In general, forward -looking
statements can be identified by the use of words such as "anticipates", "expects" or "does not expect", "is expected", "budget", "forecast",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and p hrases or
statements that certain actions, events or results "may", "could", "would", "could" or "will be taken", "occur" or "will be achieved".
VanadiumCorp relies on a number of assumptions and estimates to make these forward-looking statements, including, without limitation,
the ability to acquire the necessary permits and authorizations to advance the Lac Doré property to the production stage, the ability to
add to existing resources at Lac Doré through drilling, the costs associated with the development and operation of its properties. These
assumptions and estimates are made in light of forecasts and conditions that are considered relevant and reasonable based on available
information and current circumstances. A number of risk factors may cause actual results, level of activity, performance or results of such
exploration and/or mine development to differ materially from those expressed or implied by such forward-looking statements, including,
without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the ability to
modify project parameters as plans continue to be refined, the ability to execute planned future exploration and drilling programs, the
need for additional financing to continue exploration and development efforts, changes in general economic, market and busine ss
conditions, and other risks outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its other
public documents. Forward-looking statements are not guarantees of future performance and such information is inherently subject to
known and unknown risks, uncertainties and other factors that are difficult to predict and that may be beyond VanadiumCorp's control.
Although VanadiumCorp has attempted to identify important risks and factors that could cause actual actions, events or results to differ
materially from those described in the forward-looking statements, there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended. Accordingly, undue reliance should not be placed on these forwar d-looking
statements. In addition, all forward-looking statements in this press release are made as of the date of this press release. VanadiumCorp
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.