Vanadiumcorp Resource arranges $1.4-million financing

Executive Summary

• Vanadiumcorp Resource Inc. announced a non-brokered private placement financing for up to $1.4 million, subject to TSX Venture Exchange approval, with an expected closing date of November 30, 2025.
• The company announced the resignation of Gilles Dupuis from his roles as Chief Operating Officer and Director.
• Net proceeds will be utilized for critical mineral exploration, metallurgical testing, working capital, and general corporate purposes.

Key Details

• Financing Structure:
  • Total Gross Proceeds: Up to $1.4 million.
  • Flow-Through (FT) Units: Up to 2,333,333 units issued at $0.30 per unit.
  • Non-Flow-Through (NFT) Units: 2.8 million units issued at $0.25 per unit.
• Warrant Terms:
  • NFT Warrants: Each NFT unit includes one warrant to purchase one common share at $0.45 per share for 18 months.
  • FT Warrants: Each FT unit includes one-half warrant (full warrant to buy one share at $0.45 per share) for 18 months.
• Use of Proceeds:
  • Critical mineral exploration and metallurgical testing on wholly owned mineral properties.
  • Working capital and general corporate purposes.
  • FT share proceeds specifically for Canadian exploration expenses qualifying as flow-through mining expenditures, to be incurred by December 31, 2026, and renounced by December 31, 2025.
• Transaction Conditions:
  • Subject to TSX Venture Exchange approval.
  • Four-month hold period on all shares issued and shares issued upon warrant exercise.
  • Finders' fees may be paid in cash and warrants with terms identical to the unit warrants.
• Management Changes:
  • Gilles Dupuis resigned as Chief Operating Officer and Director.
  • Dupuis played a key role in establishing the CIMM facility pilot plant.