Vanadiumcorp Resource Inc. announced a non-brokered private placement of 8,500,000 flow-through units at a price of CAD 0.12 per flow-through unit for gross proceeds of up to CAD 1,020,000 and 30,000,000 non-flow-through units at a price of CAD 0.10 per non-flow-through unit for gross proceeds of CAD 3,000,000: aggregate gross proceeds of CAD 4,020,000 on July 20, 2022. The transaction may include participation from directors and officers of the company. Each flow-through unit will consist of one flow-through common share and one transferable warrant exercisable to purchase one non-flow-through common share at a unit price of CAD 0.18 for a period of twenty-four months and each non-flow-through unit will consist of one common share and one transferable warrant exercisable to purchase one non-flow-through common share at a unit price of CAD 0.18 for a period of twenty-four months.

The company may pay finder's fee to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the closing date. The transaction and payment of finders' fees are both subject to approval by the TSX Venture Exchange.