Australian Vanadium Ltd (ASX:AVL) has finalised a placement for $750,000 before costs to sophisticated investors.
The placement comprised 50 million new shares at $0.015 with a 1:1 free attaching listed option with an expiry of 31/12/2018 with an $0.02 exercise price.
AVL offers investors exposure to all aspects of the vanadium value chain.
The exposure starts with the raw materials through the company’s 100%-owned Gabanintha Vanadium Project in Western Australia.
Gabanintha is currently one of the highest-grade vanadium projects being advanced globally.
Moving along the value chain, AVL has developed a local production capacity for high-purity vanadium electrolyte, which forms a key component of vanadium redox flow batteries (VRB).
Finally, through its 100%-owned subsidiary VSUN Energy Pty Ltd, AVL is actively marketing VRBs in Australia through a distribution agreement with world-leading flow battery manufacturer, GILDEMEISTER Energy Storage GmbH.