Vanadiumcorp Resource Inc. announced a non-brokered private placement financing to issue 8,675,000 flow-through units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 867,500 and 4,557,500 non flow-through units at an issue price of CAD 0.08 per unit for the gross proceeds of CAD 364,600; aggregate gross proceeds of CAD 1,232,100 on November 7, 2023. The transaction is subject to TSX Venture Exchange for approval to close its non-brokered private placement financing. Each FT Unit consists of one flow-through common share and one non-flow-through common share purchase warrant, with each FT Warrant exercisable to purchase one non-flow-through common share for CAD 0.14 for two years from the date of issue. Each NFT Unit consists of one common share and one common share purchase warrant with each Warrant exercisable to purchase one common share of the Company for CAD 0.12 for two years from the date of issue. Subject to TSXV approval, cash finders' fees in the amount of CAD 84,600 will be paid; and 70,000 broker warrants, exercisable at CAD 0.12 for 2 years, and 672,000 broker warrants, exercisable at CAD 0.14 for 2 years, will be issued. The Financing was effected with one insider, subscribing for CAD 80,000 or 1,000,000 NFT Units. All securities issued pursuant to the Financing are subject to a four-month hold from the date of issue.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction will include participation from 31 placees and 1 existing insider for 1,000,000 units. The company has paid finder's fees of CAD 83,100 in cash and issued 70,000 finders warrants pursuant to unit subscriptions being exercisable at CAD 0.12 per finder's share for a period of two years from the date of issuance and 660,000 finders' warrants pursuant to flow-through unit subscriptions being exercisable at CAD 0.14 per finder's share for a period of two years from the date of issuance.