American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF) completed the first tranche of its private placement and has issued a total of 8,130,000 units, at $0.50 per unit, for total gross proceeds of $4,065,000.
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 March 30, 2014
and each whole $0.80 Warrant entitles the holder thereof to purchase one Warrant Share at a price of $0.80 until September 30, 2015.