VanadiumCorp Resource Inc (TSX-V:VRB) has announced a non-brokered private placement financing for aggregate gross proceeds of up to $600,000.
The financing will consist of up to 15,000,000 units priced at $0.04 each.
Each unit includes one common share of the company and one common share purchase warrant. Each warrant is exercisable for an additional common share at $0.06 for five years.
Net proceeds will be used for general working capital and to advance exploration and metallurgical testing on the Lac Doré mineral deposit near Chibougamau, Québec.