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American Vanadium Closes Non-Brokered Private Placement
American Vanadium Closes Non-Brokered Private Placement Vancouver, British Columbia CANADA, Se...
About this update from Monitor Ventures Inc
[{"type":"text","content":"\nAmerican Vanadium Closes Non-Brokered Private Placement\n\nAmerican Vanadium Closes Non-Brokered Private Placement\nVancouver, British Columbia CANADA, September 02, 2011 /FSC/ - American Vanadium Corp. (AVC - TSX Venture)(OTC: RMRCF.PK)(the \"Company\") is pleased to announce the completion of the non-brokered private placement (the \"Offering\") previously announced on August 23, 2011. Upon closing of the Offering, 667,000 units (\"Units\") were issued at a price of $1.50 per Unit, with each Unit consisting of one common share (a \"Common Share\") and one-quarter of a non-transferable common share purchase warrant (each whole warrant, a \"Warrant\"), for gross proceeds to the Company of $1,000,500.  Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $2.00 each until February 28, 2013.  \nAll securities issued in connection with the Offering are subject to a four-month hold period, expiring January 1, 2012.  The proceeds of this offering will be used to fund further development of the Company's Gibellini Vanadium Project.    \nAbout American Vanadium Corp.\nAmerican Vanadium is currently developing the Gibellini Vanadium Project, a vanadium resource located in Nevada, USA.  Vanadium is a critical alloying metal used to strengthen steel and is also growing in importance in the emerging uses of mass energy storage and next generation lithium-vanadium batteries.  The Company's Gibellini Vanadium Project is unique in its ability to have economic production of vanadium for the steel and alloying industries as well as vanadium electrolyte for the mass storage industry.\nON BEHALF OF THE BOARD \n\"Bill Radvak\"\nBill Radvak, President and CEO\nFor further information, please contact:\nMike Hyslop, Director, Corporate Development\nPhone: 604.488.8795\nEmail: [email protected]\nForward-Looking Statement\nThis press release contains \"forward-looking information\" within the meaning of applicable Canadian securities laws, including statements regarding the expected use of proceeds from the Offering, and future plans and objectives for the Gibellini Project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievemen...