Vanadium One Energy Corp. Announces Proposed Private Placement
TSX VENTURE: VONE
Toronto, Ontario (FSCwire) - Vanadium One Energy Corp. (the “Company”) (TSXV:VONE, FRANKFURT:9VR1), announces a proposed non-brokered private placement financing for aggregate gross proceeds to the Company of up to $500,000 (the "Offering") by issuing up to a maximum of 4,300,000 units at a price of $0.07 per unit for maximum proceeds of $301,000, and 1,990,000 “flow-through” shares at a price of $0.10 per share for maximum proceeds of $199,000. Each unit will consist of one common share in the capital of the Company and one common share purchase warrant. Each warrant will entitle its holder to purchase one additional common share at an exercise price of $0.14 for a period of 2 years from the closing date of the private placement. There can be no assurance that the Offering will be completed, whether in whole or in part. The company may pay up to 6% in Finders’ Fees on the proceeds of the flow-through shares. Insiders and Directors of the Company may participate in the private placement.
The Company will use the proceeds of the Offering to finance the Company's continuing exploration program at its Mont Sorcier Vanadium Magnetite project near Chibougamau, Quebec, and for general working capital requirements.
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Exchange and the securities regulatory authorities. All securities issued by the Company in connection with the Offering will be subject to a statutory four month hold period.
About Vanadium One Energy Corp.:
Vanadium One Energy Corp. is a mineral exploration and development company with its registered office in downtown Toronto, Canada, and its operational office located in Burlington, Ontario, Canada. The Company is focused on developing exploration projects that reside in the “Strategic Minerals” domain, as defined by the USGS. Our goal is to ascertain the metallurgical characteristics of these strategic minerals on our projects, define the extent of the resource on each project and to demonstrate the economic viability of extraction. It is the intent of the Company to become an integral part of the supply chain for the traditional, but still expanding, HSLA steel industry and to gain its share of the new, and burgeoning, battery storage technology sector. Vanadium One Energy Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
W. John Priestner
President and Chief Executive Officer
The Vanadium One Energy team invites the public to visit our website for further information about the company at www.vanadiumone.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.