Vanadiumcorp Resource Inc V.VRB

Alternate Symbol(s): VRBFF

Metals & Mining Industrial Metals & Minerals

VanadiumCorp Resource Inc. is a Canada-based critical metals company. The Company is engaged in the acquisition and exploration of mineral properties in Canada, with a primary focus on the exploration of the Lac Dore and Iron-T Properties in Quebec. The Company produces a stream of quality vanadium electrolytes for Vanadium Redox Flow Batteries (VRFB). The Iron-T Property is located in the Nord-du-Quebec administrative region in the Province of Quebec, approximately 15 kilometers (km) east of Matagami and 780 km northwest of Montreal. The Lac Dore Property is located approximately 27 km east-southeast from the City of Chibougamau, in Eeyou Istchee James Bay Territory, Nord-du-Quebec administrative region, Province of Quebec, Canada. The Lac Dore Project comprises two claim blocks, referred to as Lac Dore Main and Lac Dore North. The Lac Dore Main claims cover an area of 648.82 hectares (Ha), and the Lac Dore North claims cover an area of 4,637.87 Ha.

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Vanadiumcorp Resource Inc

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Post by glasradoon Feb 03, 2021 2:17pm

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Post# 32460302

V.VRB

Easy double soon?.

Vanadiumcorp closes $159,400 2nd tranche of financing

2021-02-03 11:57 ET - News Release

Mr. Adriaan Bakker reports

VANADIUMCORP CLOSES $1 MILLION PRIVATE PLACEMENT

Vanadiumcorp Resource Inc. has closed the second and final tranche of its previously announced financing (see the news releases dated Dec. 31, 2020, and Jan. 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 Resource Inc.

Vanadiumcorp Resource 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.

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.