Vanadium One Energy Corp. Announces Closing of Private Placement Financing
TORONTO, ON / ACCESSWIRE / December 21, 2018 / Vanadium One Energy Corp. (the "Company") (TSXV:VONE), is pleased to announce it has completed a non-brokered private placement financing (the "Financing"). Pursuant to the Financing, the Company issued 2,400,000 "flow-through" shares ("FT Shares") at a price of $0.25 per share for gross proceeds of $600,000. There were no warrants attached to this financing and no officers, directors or insiders participated in this private placement. In connection with the Financing, the Company paid aggregate finder's fees equal to 5% of the proceeds for a total of $30,000 in cash.
All securities issued in connection with the Financing are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. The Company anticipates that the proceeds of the Financing will be used to continue its exploration activities at its Mont Sorcier Iron Vanadium project, located 18 kilometers from Chibougamau, Quebec.
About Vanadium One Energy Corp.:
Vanadium One Energy Corp. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing the Mont Sorcier, Vanadium-rich, Magnetite Project, in Chibougamau, Quebec. The goal is to define the extent of this resource and demonstrate its economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
Martin Walter, CEO
Tel: 416-599-8547
Rodney Ireland, Investor Relations
Tel: 416-599-8547
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.
SOURCE: Vanadium One Energy Corp.