August 27, 2020 – Global Vanadium Corp. (GLV: TSX-V) (“Global” or the “Company”) announces that further to its news release dated August 5, 2020, it has closed the non-brokered private placement (the “Offering”) for gross proceeds of $2,500,000. The closing consisted of 10,000,000 Units at a price of $0.25 per Unit. Each Unit will consist of one common share and one share purchase warrant. Each share purchase warrant being exercisable for a period of two years at a price of $0.50 per share and subject to accelerated expiry in the event the common shares of the Company trade on the Exchange at a price of $1.00 or higher for ten consecutive trading days.
In accordance with applicable Canadian securities laws, all securities issued under the Offering are subject to a four month statutory hold period from the date of issuance. The Company paid a total of $79,360 in finder’s fees. Proceeds from the Private Placement will be used for general working capital, sampling program on the Desert Eagle Project, and some initial field work on the Stony Lake East Gold Project. To find out more about Global, please call the Company at (604) 662-8184.
Global Vanadium Corp.
For further information, please contact:
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Global’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Global will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Global’s inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that Global does acquire. These forward-looking statements are made as of the date of this news release and Global assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.