VanadiumCorp Resource Receives Conditional Approval, Closes First Tranche of Financing

Executive Summary

• VanadiumCorp has received conditional approval from the TSX Venture Exchange for its private placement financing.
• The Company has successfully closed the first tranche of the financing, raising approximately $478,000.

Key Details

• Total Financing Size: Up to 5,833,333 units at a price of $0.12 per unit.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Warrants are exercisable for an additional common share at $0.22 per share for a period of two years from the date of issue.
• Total Potential Gross Proceeds: Up to $700,000.
• First Tranche Details: 3,983,333 units were issued for aggregate gross proceeds of $477,999.96.
• Use of Proceeds: Funds are allocated for working capital and general corporate purposes.
• Regulatory Status: The financing remains subject to final Exchange approval; all securities issued are subject to a four-month hold from the date of issue.