VanadiumCorp Closes $1 Million Private Placement
VanadiumCorp Closes $1 Million Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2021) - VanadiumCorp Resource Inc.
(TSXV: VRB) (OTCBB: APAFF) (FSE: NWN) (the "Company") is pleased to announce that it has closed
the second and final tranche of its previously announced financing (the "Private Placement"), see the
news releases dated December 31, 2020 and January 5, 2021. The Company issued an aggregate of
1,594,000 units at a price of $0.10 per unit for gross proceeds of $159,400 in the second tranche.
Combined with the first tranche of 8,460,000 units for gross proceeds of $840,600 which closed on
January 15, 2021, the Company raised aggregate proceeds of $1,000,000 in the Private Placement.
The net proceeds of the Private Placement will be used for general working capital.
Each Unit consists of one common share of the Company (a "Common Share") and one common share
purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a
price of C$0.15 per Common Share for a period of 24 months from the date of closing. All securities
issued pursuant to the second tranche of the Private Placement are subject to a statutory four month hold
period ending on May 30, 2021, in accordance with applicable securities laws.
About VanadiumCorp
VanadiumCorp Resource Inc. is an integrated green technology company with strategic vanadium
mineral deposit assets. VanadiumCorp is focused on commercializing disruptive technologies to
process mineral concentrates, produce and recycle vanadium electrolytes sustainably, and construct
next generation vanadium redox flow-battery "VRFB" systems. VRFBs are 100% green technology from
mine to battery when hydrometallurgical processes produce the vanadium source commodity. (See
VanadiumCorp's 100% owned & patented "VEPT" green process technology).
Proven VRFB technologies improve renewable energy efficiencies by storing temporary energy
surpluses and feeding them back into the electrical grid as required. VanadiumCorp also wholly owns
one of the largest and metallurgically favourable vanadium mineral deposits in the world, located in
mining-friendly Quebec, Canada.
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:
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.
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