Vanadiumcorp Closes $1 Million Private Placement
NOT FOR RELEASE IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
VANADIUMCORP CLOSES $1 MILLION PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA , July 11, 2019 – VanadiumCorp Resource Inc. (TSX -V: “VRB”) (the
“Company”) has closed a non-brokered private placement of 11,111,109 flow-through common shares at a
price of $0.09 cents per share for a total of $ 1,000,000. All securities issued pursuant to the placement will be
subject to a hold period of four months and one day from the date of closing. The Company has paid cash
commissions of $ 24,000 and issued 666,667 finder’s shares to finders as compensation in relation to the
financing.
Proceeds from the placement will be utilized for advancing the 100% owned Lac Dore Vanadium Project in
Chibougamau, Quebec, Canada.
Two directors, including the CEO, participated in the financing for an aggregate of 555,556 common shares .
The participation of each of these individuals is considered to be a related party transaction pursuant to
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“MI 61-101”).
The Company determined that exemptions from the formal valuation and minority shareh older approval
requirements of MI 61 -101 were available for the related party transaction pursuant to Section 5.5(a) and
Section 5.7(1)(a) of MI 61 -101 on the basis that the fair market value of the transaction involving related
parties was not more than 25% of the Company’s market capitalization.
The private placement is subject to approval by the TSX Venture Exchange.
VanadiumCorp Resource Inc. is an integrated technology and mining company focused on developing the
exclusive supply chain for vanadium based energy storage and emerging technologies that utilize vanadium.
VanadiumCorp is focused on commercializing the most efficient and sustainable recovery method to produce
vanadium with jointly developed process technology. VanadiumCorp also holds a sig nificant vanadium -
titanium-iron bearing resource base in mining friendly Quebec, Canada including the 100% owned Lac Dore
Project adjacent to Blackrock Metals Inc. and the 100% owned Iron -T Project near the Glencore (Bracemac-
McLeod) Matagami Copper-Zinc Mine.
On behalf of the board of VanadiumCorp:
Adriaan Bakker
President and Chief Executive Officer
For more information:
Adriaan Bakker,
President and CEO, VanadiumCorp Resource Inc.
(TSX-V: “VRB”)
By phone: 1-604-385-4489
By email: [email protected]
Website: www.vanadiumcorp.com
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.
Cautionary & Forward -Lookin g Statements
This release contain s forward -l ooking statements. All state ments ot her than statements of present or historical fa ct are forward -looking statements, incl uding statements with respect t o the anti cipated use o f Private Pla ce ment pro ceeds and anticip ated re ceipt o f final TSX Venture Excha nge a cce ptan ce for t he Private Pla cement. Forward -lookin g state ments in clude w ords or e xpres sions such as "will", "subje ct to", ""e xpect " an d other si milar word s or e xpressio ns. Fa ctors that coul d cause future results or events to differ materially fr om current e xpectatio ns e xpre sse d or i mplied by the forwar d-lo o king statements inclu de gener al busi ness, e con omi c,
competitive, political and s ocial u ncertainties; the state o f capital markets and risks that may impa ct the Co mpany’ s busine ss, oper ations an d fin anci al con dition. Althou gh the Co mpa ny believes that the expe ctations refle cted in these forward -looking state ments are reas onable, undue relia nce sh ould n ot be placed o n them be cau se the Co mpa ny can give no assura nce that they will prove to be correct. Since forward -lookin g statement s addres s future events a nd co nditions , by their very nature they involve inherent risks and uncertainties. Addition al infor mation on these a nd other factors that could affect the Comp any’s oper ations an d fin anci al results are
included in rep orts on file with Cana dian se curities regulatory authorities a nd may be accessed thro ugh the SEDAR we bsite ( www.sed ar.co m). We dis claim a ny obligatio n to upd ate or revise these forward -looking st atements, e xcept a s required by ap plicable law.
TSX-V: “VRB”