VanadiumCorp Forms Subsidiary and Acquires Facility for VRFB Production in Germany
VANCOUVER, Nov. 5, 2019 /CNW/ - VanadiumCorp Resource Inc. (TSX Venture Exchange: "VRB") ("Frankfurt Stock Exchange: "NWN") ("VanadiumCorp")(the "Company") is pleased to announce it has formed a wholly owned subsidiary of VanadiumCorp Resource Inc. focused on next generation vanadium redox flow battery "VRFB" development in Germany named VanadiumCorp GmbH.
VanadiumCorp GmbH introduces XRG® as next generation energy storage technology powered by its own supply chain. Components are both manufactured sustainably and are 100% reusable & recyclable. With the lowest cost and carbon footprint, XRG intends to revolutionize energy projects, renewable energy and entire power grids. The facility for planned production is now acquired in Rastatt close to Karlsruhe, Germany and construction will commence this month. Partnerships locally will provide further product evolution. XRG® is a VanadiumCorp GmbH technology. More information is available at www.xrg.com.
VanadiumCorp is developing dedicated vanadium supply and disruptive technologies for energy storage with a 100% green mandate. More information on active projects and new vanadium energy technologies can be found on The Company's website at www.vanadiumcorp.com.
On behalf of the board of VanadiumCorp:
Adriaan Bakker
President and Chief Executive Officer
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.
Cautionary & Forward-Looking Statements
This release contains forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to the anticipated use of Private Placement proceeds and anticipated receipt of final TSX Venture Exchange acceptance for the Private Placement. Forward-looking statements include words or expressions such as "will", "subject to", "expect" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets and risks that may impact the Company's business, operations and financial condition. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
SOURCE VanadiumCorp Resource Inc.
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