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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 a
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Vancouver, British Columbia (Newsfile Corp. - January 8, 2021) - VanadiumCorp Resource Inc. (TSXV: VRB) (OTC PINK: APAFF) (FSE: NWN) (the Company ) is pleased to announce that it has closed its previously announced financing (the Private Placement ), see the news releases dated December 31, 2020 and January 5, 2021, and raised $858,000 through the issuance of 8,580,000 units (the Units ) at a price of $0.10 per Unit. The net proceeds of the Private Placement will be used for general working capital.
Each Unit consists of one common share of the Company (a Common Share ) and one common share purchase warrant (a Warrant ). Each Warrant will entitle the holder to purchase one Common Share at a price of C$0.15 per Common Share for a period of 24 months from the date of closing. All securities issued pursuant to the Private Placement are subject to a statutory four month hold period, in accordance with applicable securities laws.