Vancouver, British Columbia--(Newsfile Corp. - August 31, 2015) - AMERICAN VANADIUM CORP. (TSXV: AVC) ("American Vanadium" or the "Company") announces a non-brokered private placement (the "Private Placement") of up to 1,875,000 million units at the price of CDN$0.08 per unit (a "Unit") for proceeds of up to $150,000. Each Unit consists of one common share ("Common Share") in the capital of the Company and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at the price of CDN$0.10 each for a period of 24 months from closing.
On closing, the Company may pay a finder's fee in cash of up to 7% of the gross proceeds from the total number of Units sold and Warrants of up to 7% of the number of Units sold.
The net proceeds of the Private Placement will be used to for the annual US Bureau of Land Management filings for the Gibellini claims and for general corporate purposes.
Closing of the Private Placement is subject to the receipt of all applicable regulatory approvals.
About American Vanadium Corp.
American Vanadium is an integrated energy storage company and the Master Sales Agent in North America for the CellCube vanadium flow energy storage system. The CellCube is developed and produced by GILDEMEISTER energy solution, a division of DMG Mori Seiki AG. The CellCube is the world's leading commercially available vanadium flow battery, providing long duration solutions over a 20+ year life for a broad range of applications including renewable energy integration and demand charge reduction. The CellCube is a powerful, durable and reliable energy storage system that ensures a clean, emission-free energy supply at all times. American Vanadium is developing the Gibellini Vanadium Project in Nevada to be the only dedicated vanadium mine in the United States, providing a critical source of vanadium electrolyte for CellCube energy storage systems.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact: | Bill Radvak, President & CEO |
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