Publish Time: 2026-04-08 Origin: Site
According to the Global Flow Battery Network, VanadiumCorp Resource Inc. (TSXV: VRB; FSE: NWNA; OTC: VRBFF), a Canadian vanadium resource development company, issued an official announcement via The Newswire on April 6 local time, stating its plan to complete a non-brokered private placement financing totaling 700,000 Canadian dollars. The funds will be mainly used for the exploration of its vanadium mining projects and the research and development of vanadium electrolyte technology, so as to strengthen the layout of the local vanadium industry chain in North America.
This financing is issued at a price of 0.12 Canadian dollars per unit, with a maximum total issuance of 5,833,333 financing units and a fundraising cap of 700,000 Canadian dollars. The financing plan is subject to final approval by the Toronto Stock Exchange Venture Exchange (TSXV).
· Unit composition: Each unit consists of 1 common share plus 1 warrant;
· Exercise terms: The warrant is valid for 24 months with an exercise price of 0.22 Canadian dollars per share; if the company's share price exceeds 0.50 Canadian dollars for 10 consecutive trading days after the 4-month lock-up period, the warrant expiration date may be advanced to 30 days;
· Phased implementation: The first tranche is planned to issue 3,983,333 units, raising approximately 446,100 Canadian dollars, with the remaining portion to be completed upon exchange approval.
VanadiumCorp Resource Inc. is a leading Canadian mineral exploration company dedicated to ensuring a sustainable supply of vanadium, titanium, and iron through its 100% ownership of two strategic properties in Quebec – its flagship Lac Dore Project and the Iron-T Project.
VanadiumCorp also owns VanadiumCorp Electrochemical Processing Technology (VEPT™), a globally patented process for the recovery of vanadium, iron, and titanium from radioactive titaniferous iron ore and other feedstocks.
In addition, the company owns Nordik Wines' pilot electrolyte plant in Quebec, which is designed to test future VanadiumCorp feedstocks and supply electrolytes to vanadium flow battery manufacturers.
The company's initial electrolyte facility in the Val-d'Or region of Quebec employs advanced electrochemical technology. The facility has an annual production capacity of up to 250,000 litres of high-purity vanadium electrolyte, sufficient to provide 4.75 megawatt-hours of VFB energy storage annually to global manufacturers and end-users.