Velox Energy Materials Sets Terms for $3.1 Million Private Placement to Fund Strategic Resource Opportunities

An update from Currie Rose Resources ( (TSE:VLX) ) is now available.

Velox Energy Materials Inc. has confirmed the terms of a non-brokered private placement of up to 89,296,272 units at $0.035 per unit, for potential gross proceeds of approximately $3.1 million. Each unit comprises one common share and a warrant exercisable at $0.05 for 24 months, with the financing subject to TSX Venture Exchange approval and standard hold periods.

The company plans to use the net proceeds to evaluate and conduct due diligence on new resource opportunities in line with its current strategy, fund existing project commitments, and cover regulatory and corporate costs, while allocating about $500,000 specifically to strategic opportunity evaluation. A director intends to subscribe for up to 5.7 million units, a related-party transaction that will proceed under available exemptions, and none of the funds will go to investor relations providers or non-arm’s-length parties, underscoring a focus on project and corporate development over promotional spending.

More about Currie Rose Resources

Velox Energy Materials Inc. is a publicly traded energy materials company focused on developing high-value assets in resource- and research-friendly jurisdictions. Its flagship asset is the advanced NQV Project in Queensland, Australia, which hosts the Cambridge vanadium and molybdenum deposit. The company also owns Kotai Energy, which is working to commercialize solid-state hydrogen storage technology from Curtin University in Western Australia.

Average Trading Volume: 94,885

Technical Sentiment Signal: Sell

Current Market Cap: C$3.13M

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