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Vanadiumcorp Receives TSX Approval for an Oversubscribed Financing
(TheNewswire) Vancouver, British Columbia – TheNewswire - May 11, 20...
About this update from Vanadiumcorp Resource Inc
[{"type":"text","content":"Vanadiumcorp Receives TSX Approval for an Oversubscribed Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n May 11, 2023 – VanadiumCorp Resource\nInc. (TSXV:VRB) (OTC:APAFF) (FSE:NWN)\n \n \n (the\n\"Company”) is pleased to report that it has received approval\nfrom the TSX Venture Exchange (the “Exchange”) to close its\nnon-brokered private placement financing (the “Financing”) for\naggregate gross proceeds of $1,632,940.\n \n \n \n \n The Company will now issue\n \n \n 16,329,400 units (“Units”), each\n \n \n Unit\nconsisting of one common share of the Company and one common share\npurchase warrant, each warrant entitling the holder to acquire an\nadditional common share at an exercise price of $0.18 for a period of\ntwo years.\n \n \n \n \n Cash finders’ fees and broker warrants in accordance\nwith Exchange policies are being paid as follows:\n \n \n \n \n \n \n Echelon Wealth Partners - $800 cash and 8,000\nnon-transferable broker warrants\n \n \n \n \n \n \n Haywood Securities Inc. - $18,800 cash and 188,000\nnon-transferable broker warrants\n \n \n \n \n \n \n GloRes Securities Inc. - $4,000 cash and 40,000\nnon-transferable broker warrants\n \n \n \n \n \n \n Leede Jones Gable Inc. - $800 cash and 8,000\nnon-transferable broker warrants\n \n \n \n \n \n \n Six (6) insiders of the Company have subscribed for\n3,879,400 Units for proceeds of $387,940, which participation is\nconsidered to be a “related party transaction” as defined under\nMultilateral Instrument 61-101 (“MI 61-101”), such insider\nsubscription being a “related party transaction” as that term is\ndefined under MI 61-101 – Protection of Minority Security Holders in\nSpecial Transactions.  The Company is relying on exemptions from the\nformal valuation requirement of MI-61-101 under sections 5.5(a) and\n(b) of MI 61-101 in respect of the transaction as the fair market\nvalue of the transaction, insofar as it involves the interested party,\nis not more than 25% of the Company’s market capitalization.\n \n \n \n \n All securities issued pursuant to the Financ...