VanadiumCorp Gets Conditional Approval Closes First Tranche of Flow-Through Financing

Executive Summary

• VanadiumCorp received conditional TSX‑V approval for its previously announced private placement financing.
• The first tranche closed, raising $700,000 with the issuance of 2,333,333 flow‑through units (FT Units).
• Net proceeds will be used to fund eligible Canadian exploration expenses, including flow‑through critical mineral mining expenditures targeting vanadium.

Key Details

• Financing Structure:
• Up to 2,333,333 FT Units at $0.30 each – each unit = one flow‑through common share + ½ non‑flow‑through warrant (full warrant exercisable at $0.45 for 18 months).
• Up to 2,800,000 NFT Units at $0.25 each – each unit = one common share + one common share purchase warrant (exercisable at $0.45 for 18 months).
• Maximum Gross Proceeds: $1.4 million if the full placement is subscribed.
• First Tranche Close: Raised $700,000, issuing 2,333,333 FT Units.
• Finder’s Fees & Broker Warrants: Paid cash finder’s fees of $49,000 and issued 163,333 non‑transferable broker warrants in accordance with TSX‑V policies.
• Hold Period: All securities subject to a four‑month hold from the date of issue.
• Use of Proceeds:
• To incur eligible “Canadian exploration expenses” that qualify as flow‑through mining expenditures (including critical mineral mining expenditures) on or before 31 Dec 2026.
• To renounce those qualifying expenditures to FT Unit subscribers by 31 Dec 2025.
• Tax Credit: Company obtained the required Critical Minerals Exploration Tax Credit (CMETC) prescribed form, confirming that a portion of the expenses will be classified as critical‑mineral exploration (vanadium).

Notable Quotes

“We are pleased to have secured conditional approval for our financing and to close the first tranche, providing essential capital to advance our vanadium exploration program.” – Kristien Davenport*, CEO & President.