American Vanadium Closes First Tranche
2013年10月1日 - 6:10AM
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September 30,
2013- AMERICAN VANADIUM CORP.
("American Vanadium" or the "Company") (TSX.V: AVC) (OTCQX: AVCVF)
is pleased to report that it has closed its previously announced
non-brokered private placement (the "Private Placement"). It has
completed the first tranche and has issued a total of
8,130,000 units at the price
of CDN$0.50 per unit (a "Unit") for total gross proceeds to the
Company of approximately CDN$4,065,000.
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.
Contemporaneously with the closing
of the Private Placement, Brett Whalen, a nominee of Dundee
Corporation ("Dundee"), has been appointed to serve on the Board of
Directors of the Company.
The Company paid a finder's fee of
up to 6% cash and the issuance of up to 6% Warrants on 1,020,000
Units sold.
The net proceeds of the Private
Placement will be used for sales and marketing activities of the
CellCube vanadium redox flow batteries, mine design, environmental
permitting and general working capital.
Dundee and the Company have executed
a term sheet pursuant to which it is expected that Dundee shall
subscribe for up to an additional 6 million Units for aggregate
gross proceeds of $3,000,000, subject to the completion of
additional due diligence, definitive documentation and other
conditions, including shareholders' approval of Dundee becoming a
"control person" of the Company (holding over 20% of the Company's
shares) after the expected completion of the second tranche of the
Private Placement.
All securities issued in connection
with the Private Placement will be subject to a statutory hold
period of four months plus a day from the date hereof in accordance
with applicable securities laws.
The securities have
not been registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or
sold in the United States absent registration thereunder or an
applicable exemption from such registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities in the United
States.
About
American Vanadium Corp.
American Vanadium is an integrated
energy storage company that markets and sells GILDEMEISTER'S
CellCube vanadium redox flow batteries in North America. American
Vanadium is developing the only vanadium mine in the United States,
providing a critical source of vanadium electrolyte for CellCube
energy storage systems. The Company's Gibellini Vanadium Project,
located in Nevada, is being designed to economically produce
vanadium electrolyte for the energy storage industry, as well as
vanadium products for the steel and alloying industries.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Dan Schieber, Director,
Corporate Finance
(604) 681-8588 X 106
dschieber@americanvanadium.com
www.americanvanadium.com
NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking
Statements: This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
laws, including statements with respect to obtaining shareholder
approval, use of proceeds, future plans and objectives for the
Gibellini Project and the energy storage business. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Forward-looking information includes estimates of mine
production rates and mine life, revenues from future mining
operations, capital and operating costs, and pay-back period.
Factors that may cause actual results to vary include, but are not
limited to, changes in project parameters as plans continue to be
refined; future prices of vanadium; possible variations in
reserves, grade or recovery rates; changes to capital and operating
cost estimate, delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities. We may not have adequate capital, financing or cash
flow to sustain our business or implement our business plans.
Statements contemplating or making assumptions regarding actual or
potential sales, market size and demand, prospective business
contracts, customer orders or trends in the energy storage market
constitute forward looking statements. Our actual results may
differ from those indicated in forward looking statements as the
energy storage and renewable energy generation business is subject
to significant economic, competitive, regulatory, business and
industry risks which are difficult to predict and many of which are
beyond our control. Our business performance may be adversely
affected by a general decline in the economy, unavailability of
capital or financing for prospective customers to purchase products
and services from us, competition, changes in regulations, a
decline in the demand for energy storage and other risks. Although
American Vanadium has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward- looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. American Vanadium does not undertake to update any
forward- looking statements, except in accordance with applicable
securities laws.
THIS PRESS RELEASE
IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE
SECURITIES DESCRIBED HEREIN.
American Vanadium Corp. (TSXV:AVC)
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American Vanadium Corp. (TSXV:AVC)
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から 6 2023 まで 6 2024