VANCOUVER, Oct. 17, 2018 /CNW/ - Vanadian Energy Corp. (the
"Company") (TSXV: VEC), announces a non-brokered private placement of up to 4,000,000 flow through shares at a price of
$0.10 per share for gross proceeds of up to $400,000.
In addition, the private placement will include up to 6,250,000 non-flow through units at a price of $0.08 per unit for gross proceeds of up to $500,000. Each non-flow through unit
will consist of one common share and one-half common share purchase warrant. Each full warrant will entitle the holder to
purchase one common share at a price of $0.17 per common share for a period of 2 years from
closing. Cash finder's fees on the gross proceeds of the offering may be paid.
Proceeds will be used to continue exploration and development of the Company's Huzyk Creek in Manitoba, as well as for general working capital. The private placement is subject to the approval of
the TSX Venture Exchange.
ABOUT VANADIAN ENERGY CORP.
Vanadian Energy Corporation is an energy minerals focused company headed by an experienced team, well versed in mineral
exploration and capital markets. The company is focused on the strategic acquisition, exploration, and development of high
quality energy mineral properties in Canada and around the world. Vanadian Energy Corporation is
building a leading vanadium focused resource company.
ON BEHALF OF VANADIAN ENERGY CORP.
"Marc Simpson"
Marc Simpson
President and CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Neither 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. The foregoing information may contain
forward-looking information relating to the future performance of the Company. Forward looking information is subject to a
number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Such risks and other factors include, among others, the
actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining
industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals,
permits or financing or in the completion of development or construction activities, title disputes, change in government and
changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the
Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forward-looking statements are made based on various assumptions and on management's
beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the
forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if
these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable
law.
SOURCE Vanadian Energy Corp.
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