VanadiumCorp Closes 1st Tranche of Private Placement
TSX-V: “VRB”
VANADIUMCORP CLOSES 1st TRANCHE of PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA – July 20, 2015 – Vanadiumcorp Resource Inc. (TSX-V:
“VRB”) (the "Company") is pleased to announce it has closed the 1st tranche of the Private Placement previously announced June 2, 2015, totaling 2,056,980 non-flow-through units (“Units”) at a price of C$0.05 per Unit for gross proceeds of C$102,849. Each unit consisted of one common share and one non-transferable share purchase warrant exercisable for a period of 36 months at a price of $0.05.
The common shares issued under the placement are subject to a four-month hold period expiring November 18, 2015. The placement was subscribed for by existing shareholders and no commissions were paid. Approximately 17% of the Private Placement was purchased by insiders of the Company. Proceeds from the Private Placement will be used for general and administrative expenses. The Placement is subject to regulatory approval.
For further information, contact Adriaan Bakker, President and Chief Executive Officer at 604- 385-4485 or [email protected].
Neither the 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.
VanadiumCorp Resource Inc. Suite #711 675 West Hastings Street, Vancouver, BC, V6B 1N2, Canada Direct:604.385.4489 Facsimile:604.685.3764 Website www.vanadiumcorp.com