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American Vanadium Announces a Private Placement of up To $2.5 Million
(via Thenewswire.ca) ---- || | ---- June 26, 2013 - AMERICAN VANADIUM CORP ....
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[{"type":"text","content":"American Vanadium Announces a Private Placement of up To $2.5 Million(via Thenewswire.ca)\n\n \n\n ----\n || |\n ----\n\n\n \nJune 26, 2013 - AMERICAN VANADIUM CORP. (\"American Vanadium\" or the \"Company\") (TSX.V: AVC) (OTCQX: AVCVF) announces a non-brokered private placement (the \"Private Placement\") of up to $2,500,000 at the price of CDN$0.70 per unit (a \"Unit\"). Each Unit consists of one common share (\"Common Share\") in the capital of the Company and one half of a share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at the price of CDN$1.00 each for a period of 18 months from closing.\n\n\n \nOn closing, the Company will pay a finder's fee in cash of up to 6% of the gross proceeds from the total number of Units sold and Warrants of up to 6% of the number of Units sold.\n\n\n \nThe net proceeds of the Private Placement will be used for sales and marketing of the CellCube vanadium redox flow batteries, mine design, environmental permitting and general working capital.\n\n\n \nClosing of the Private Placement is subject to the receipt of all applicable regulatory approvals. \n\n\n \nAbout American Vanadium Corp.\n\n\n \nAmerican Vanadium has entered into a master sales agreement with GILDEMEISTER energy solutions to market and sell the CellCube vanadium redox flow batteries in North America. American Vanadium is developing the only vanadium mine in the United States. The Company's Gibellini 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. \n\n\n \nA positive Feasibility Study and updated National Instrument 43-101 on the Gibellini Project were completed by AMEC E&C Services in 2011. \n\n\n \nAmerican Vanadium trades on the TSX Venture Exchange as a tier-one company under the symbol \"AVC\", the OTCQX Market under the symbol \"AVCVF\" and the Frankfurt Stock Exchange under the symbol \"0UA\".\n\n\n \nON BEHALF OF THE BOARD \n\n\n \nBill Radvak, President and CEO\n\n\n \nFor further information, please contact: Bill Radvak, President & CEO\n\n\n \n Phone: (604) 681-8588 X 101\n\n\n \n Email: [email protected]\n\n \n \nor\n\n\n \n Mike Hyslop, Director, Corporate Development\n\n...