American Vanadium Closes Second Tranche of Private Placement

 American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF) closed the second tranche of its non-brokered private placement. A total of 3,530,000 units have been issued, at a price of $0.50 per unit, for total gross proceeds of approximately $1,765,000.

As quoted in the press release:

Each Unit consists of one common share in the capital of the Company (a “Common Share”), one half of one warrant exercisable at $0.60 (“$0.60 Warrant”) and one half of one warrant exercisable at $0.80 (“$0.80 Warrant”). Each whole $0.60 Warrant entitles the holder thereof to purchase one Common Share (a “Warrant Share”) at a price of $0.60 until May 4, 2014 and each whole $0.80 Warrant entitles the holder thereof to purchase one Warrant Share at a price of $0.80 until November 4, 2015.

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