/NOT FOR RELEASE IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/
TSX-V: "VRB"
VANCOUVER, BC, Dec. 31, 2020 /CNW/ - VanadiumCorp Resource Inc.
(TSX-V: VRB) (the "Company") has arranged a non-brokered private
placement of up to 5,000,000 non flow-through units at a price of
$0.10 cents for gross proceeds of up
to $500,000CDN. Each unit will
consist of one common share of the Company and one share purchase
warrant. Each share purchase warrant can be exercised at a price of
$0.15 for a period of 24 months from
the date of closing in exchange for one common share in Company.
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.
Proceeds from the placement will be utilized for general working
capital.
The private placement is subject to approval by the TSX Venture
Exchange.
VanadiumCorp Resource Inc. is an integrated technology
company with strategic vanadium mining assets focused on
commercializing green technologies to both recover vanadium
electrolytes sustainability and harness the further environmental
benefit of their perpetual use in Vanadium Redox Flow Battery
"VRFB" systems. The environmental friendliness of proven VRFB
technologies compliment and upgrade the efficiencies of the green
and low generation cost of renewable energies. VRFBs represent the
most sustainable energy storage option to facilitate replacing
fossil fuels in many applications and ability to feed energy
surpluses back into the grid at times when the performance of
renewable energy sources are low or energy is cost prohibitive.
VanadiumCorp also wholly owns a significant vanadium-titanium-iron
bearing resource base in mining friendly Quebec, Canada including the flagship Lac Dore
Project adjacent to Blackrock Metals Inc. and the Iron-T Project
near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.
The Company also announces it has granted 2,600,000 incentive
stock options to a director in the Company.
On behalf of the board of VanadiumCorp:
Adriaan
Bakker
President and Chief Executive
Officer
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.
SOURCE VanadiumCorp Resource Inc.