Business
American Vanadium Corp. Closes $3.7 Million Private Placement Financing
Mar. 22, 2011 (Filing Services Canada) -- American Vanadium Corp. Closes $3.7 Million Private ...
About this update from Monitor Ventures Inc
[{"type":"text","content":"\nAmerican Vanadium Corp. Closes $3.7 Million Private Placement Financing\n\n Mar. 22, 2011 (Filing Services Canada) -- American Vanadium Corp. Closes $3.7 Million Private Placement FinancingTHIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, 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. THESE 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 OR TO U.S. PERSONS UNLESS REGISTERED THEREUNDER OR EXEMPT THEREFROM.Vancouver, British Columbia CANADA, March 22, 2011 /FSC/ - American Vanadium Corp. (AVC - TSX Venture), is pleased to announce the completion of the brokered private placement (the \"Offering\") previously announced on January 20, 2011, with a syndicate of agents led by Dundee Securities Ltd. as sole bookrunner, co-led by Byron Capital Markets Ltd. and including Casimir Capital Ltd. (collectively, the \"Agents\").Upon closing of the Offering, 2,770,250 units (\"Units\") were issued at a price of $1.35 per Unit, with each Unit consisting of one common share (a \"Common Share\") and one-half of one transferable common share purchase warrant (each whole warrant, a \"Warrant\"), for gross proceeds to the Company of $3,739,837.50.  Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.95 per Common Share until September 22, 2012.   A cash commission equal to 7% of the gross proceeds of the Offering was paid to the Agents.  In addition, the Agents were issued agents' warrants (the \"Agents' Warrants\") equal to 7% of the number of Units issued pursuant to the Offering.  Each Agents' Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.35 per Common Share until March 22, 2012.All securities issued in connection with the Offering are subject to a four-month hold period, expiring July 23, 2011.Proceeds from the sale of the Units will be used to fund additional exploration at or in close proximity to the Company's Gibellini Vanadium Project in Nevada and for general corporate purposes.About American Vanadium Corp.The Company is currently developing the Gibellini Vanadium P...