VanadiumCorp Arranges Non-Brokered Private Placement

Vanadiumcorp (TSXV:VRB) has arranged a non-brokered private placement for gross proceeds of $500,000. Proceeds will be used in part for the company’s Lac Dore preliminary economic assessment.
As quoted in the press release:

Vanadiumcorp Resource Inc. has arranged a non-brokered private placement of up to 12.5 million units at a price of four cents per unit for a total of $500,000. Each unit shall consist of one common share of the issuer and one share purchase warrant. Each full warrant will entitle the holder to acquire one common share of the issuer at a price of six cents for a period of 36 months following the closing date of the offering. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. Proceeds from the placement will be used for Vanadiumcorp’s Lac Dore preliminary economic assessment currently under way and exploration work on the company’s Chibougamau copper-gold projects. The financing is not available to insiders of the company, and the placement is subject to regulatory approval.

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