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Author: Admin | 2025-04-28
Nevada Vanadium Mining Corp. Announces Private Placement Offering of Up To 3,571,429 Units for Gross Proceeds of Up To $500,000 Vancouver, British Columbia, April 4, 2023 – Nevada Vanadium Mining Corp. (“Nevada Vanadium” or the “Company”) announces that it proposes to undertake a non-brokered private placement (the “Placement”) of up to 3,571,429 Units of the Company (the “Units”) at a price of $0.14 per Unit to raise aggregate gross proceeds of up to $500,000. Each Unit will consist of one common share of the Company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.18 per share for 3 years. The securities issued as part of the Placement will be subject to a hold period of four months plus one day from the date of issue. Closing of the Placement is expected to occur on or about May 1, 2023. John Lee, Chairman will be subscribing for up to 350,000 Units for gross proceeds of up to $49,000 and Oracle Commodity Holding Corp. will be subscribing for up to 350,000 Units for gross proceeds of up to $49,000. The issuance of Units to insiders pursuant to the Placement will be considered related party transactions within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Placement by insiders will not exceed 25% of the fair market value of the Company’s market capitalization. The Company will file a material change report in respect of the related party transactions in connection with the Placement. A Finder’s Fees of up to 7% Finder’s Units may be payable in connection with the Placement. Each Finder’s Unit will consist of one common share of the Company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.18 per share for
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