VanadiumCorp Files for Conditional Approval of $1.4 Million Private Placement Financing, Closes First Tranche

Executive Summary

• VanadiumCorp Resource Inc. filed with the TSX Venture Exchange to obtain conditional approval for a private‑placement financing of up to $1.4 million.
• The financing comprises two series of units: 2,333,333 flow‑through (FT) units at $0.30 each and up to 2,800,000 non‑flow‑through (NFT) units at $0.25 each.
• The company seeks immediate closing of a first tranche for $700,000, issuing the FT units, with proceeds earmarked for eligible Canadian exploration expenses on its vanadium projects.

Key Details

• Financing Structure – Up to 2,333,333 FT Units ($0.30 per unit) and up to 2,800,000 NFT Units ($0.25 per unit).
• Unit Composition – Each FT Unit: one flow‑through common share + ½ non‑flow‑through warrant (full warrant exercisable at $0.45 for 18 months). Each NFT Unit: one common share + one common‑share purchase warrant (exercisable at $0.45 for 18 months).
• Aggregate Gross Proceeds – Maximum of $1.4 million; first tranche targeted at $700,000.
• Use of Proceeds – To fund eligible “Canadian exploration expenses” that qualify as flow‑through mining expenditures (including flow‑through critical mineral mining expenditures) on or before 31 Dec 2026, and to renounce those expenditures to FT Unit subscribers effective 31 Dec 2025.
• Finder’s Fees – May be paid in cash and/or warrants per TSX Venture Exchange policies.
• Holding Period – All securities issued are subject to a four‑month hold from the date of issue.
• Exploration Application – Net proceeds will support VanadiumCorp’s exploration program on its Quebec vanadium projects, including the flagship Lac Doré Vanadium Project and related pilot‑plant activities.

Notable Quotes

“The financing will provide essential capital to advance our critical mineral exploration program and further position VanadiumCorp as a key supplier of vanadium for energy storage applications,” – Kristien Davenport, CEO & President.