Vanadiumcorp Announces Flow-Through and Non Flow-Through Private Placement Financing for Critical Minerals

On November 4, 2025, VanadiumCorp announced a private placement to raise up to approximately C$1.4 million. The financing consists of two parts: 1. Flow-Through (FT) Units: Up to 2,333,333 units at C$0.30 each. Each unit includes one flow-through common share and one-half of a purchase warrant. 2. Non-Flow-Through (NFT) Units: Up to 2,800,000 units at C$0.25 each. Each unit includes one common share and one full purchase warrant.

All warrants, for both FT and NFT units, have an exercise price of C$0.45 and an 18-month term. The proceeds will be used for critical mineral exploration, metallurgical testing, and general working capital.

Concurrently, the company announced the resignation of Gilles Dupuis as Chief Operating Officer and Director. The company thanked him for his key contributions, particularly in establishing the pilot plant.

The announcement is a mixed bag, but the positive aspects slightly outweigh the negatives, making it routine for a company at this stage.

Positive Aspects: - Financing at a Premium: The financing prices of C$0.25 and C$0.30 represent a significant premium to the multiple financings conducted earlier in the year at C$0.11. This demonstrates renewed market confidence following the positive news in October (patent allowance, project updates) and validates the recent stock price appreciation. - Essential Capital Injection: The company's latest financials (April 30, 2025) showed only C$62,777 in cash and a working capital deficit. The subsequent C$396k financing in September provided a short-term lifeline, but this C$1.4 million raise is crucial for funding the next phase of development, including the promised work on the Lac Doré project.

Negative Aspects: - COO Resignation is a Major Red Flag: Gilles Dupuis was not just the COO; he was the former CEO and was explicitly credited with a key role in establishing the company's pilot plant. His departure at this critical juncture raises serious questions. It introduces uncertainty regarding the technical leadership and the advancement of the electrolyte pilot plant, which is a core part of the company's strategy. - Dilution: As with any equity financing, this will be dilutive to existing shareholders. The offering could add up to 5.13 million shares initially, plus an additional 3.97 million shares if all warrants are exercised.

Overall Assessment: The financing is a necessary and expected step for a junior exploration company looking to advance its projects after a successful stock run. The improved terms are a clear positive. However, the unexpected and concerning departure of a key technical leader significantly tempers the good news. The market will likely view this as one step forward (funding secured) and one step back (key man risk introduced). For these reasons, the news is not materially game-changing but rather a routine and necessary corporate action with a notable risk element attached.

VanadiumCorp Resource Inc. is a Canadian critical metals exploration and development company. Its primary focus is on its 100%-owned vanadium-titanium-iron mineral properties in Quebec, Canada.

The company's flagship project is the Lac Doré Property, located near Chibougamau, Quebec. It is considered one of North America's largest undeveloped vanadium deposits. The company is currently working on updating a historical 2020 NI 43-101 resource estimate of 214.93 million tonnes (Measured & Indicated).

In addition to its mineral assets, VanadiumCorp is advancing its proprietary VEPT™ (Vanadiumcorp Electrochem Process Technology), a low-energy, environmentally friendly method for extracting vanadium, iron, and titanium. It is also developing an electrolyte pilot plant in Val-des-Sources, Quebec, to produce high-quality vanadium electrolyte for Vanadium Redox Flow Batteries (VRFBs). In November 2024, the company announced its electrolyte was approved by major battery manufacturer CellCube.