Vanadiumcorp Resource ( (TSE:VRB) ) just unveiled an update.
VanadiumCorp Resource Inc. has received approval from the TSX Venture Exchange to settle $74,174.59 of debt by issuing 593,397 common shares at $0.125 each. This ‘Shares for Debt’ transaction, involving related parties, is exempt from formal valuation requirements as it represents less than 25% of the company’s market capitalization. The move is part of VanadiumCorp’s strategy to manage its financial obligations while continuing to focus on its core operations and strategic goals in the critical metals industry.
More about Vanadiumcorp Resource
VanadiumCorp Resource Inc. is a Canadian critical metals exploration company with 100% ownership of two strategic properties in Quebec, namely the Iron T and the flagship Lac Doré property. The company focuses on developing innovative technologies to extract vanadium-titanium and potentially high-grade iron from its vanadiferous titanomagnetite projects. It aims to ensure a stable, long-term supply of critical metals, including vanadium feedstock for its electrolyte production facility in Val-des-Sources, Quebec, which will also support the international market for Vanadium Flow Batteries.
YTD Price Performance: -38.89%
Average Trading Volume: 18,935
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$1.12M
See more data about VRB stock on TipRanks’ Stock Analysis page.