Nevada Vanadium Mining Corp. Closes Private Placement for Gross Proceeds of $280,000
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2023) - Nevada Vanadium Mining Corp. ("Nevada Vanadium" or the "Company") announces it closed on a private placement of 3,500,000 shares at a price of $0.08 per share (the "Shares") for gross proceeds of $280,000. As a result in the issuance of the Shares, Ron Motz, has become an "insider" as defined by the Securities Act (British Columbia). Mr. Motz, subscriber to the private placement, previously beneficially owned, director or indirect, 5,484,844 shares and 4,000,000 warrants. Subsequent to the private placement, Mr. Motz beneficially owns, director or indirect, 8,984,844 shares of the Company or 14.5% of the issued and outstanding shares of the Company and 7,500,000 warrants of the Company or 23.7% of the issued and outstanding on a partially diluted basis assuming Mr. Motz were to exercise his warrants.
A copy of Mr. Motz's early warning report will appear on Nevada Vanadium's profile on SEDAR.
The securities issued pursuant to the private placements are subject to a regulatory hold period until November 6, 2023.
Proceeds of the Placement are expected to be used for project advancement, working capital and general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Nevada Vanadium Mining Corp.
Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini Vanadium project in Nevada, United States.
To find out more about Nevada Vanadium, visit www.nevadavanadium.com
NEVADA VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
For more information about Nevada Vanadium, please contact Investor Relations: email@example.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Company's future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172834