Results of Special Meeting
12 Dezembro 2013 - 9:48PM
Access Wire
December 12, 2013
- AMERICAN
VANADIUM CORP. ("American Vanadium" or the
"Company") (TSX.V: AVC) (OTCQX: AVCVF) is pleased to report that at
the Special Meeting held on December 6, 2013, the shareholders
approved the following:
-
1.The issuance of 6,000,000 units of the Company at a price of
$0.50 per Unit to Dundee Corporation ("Dundee") by way of a private
placement (the "Private Placement") and the creation of Dundee as a
new Control Person; and
-
2.The issuance of 500,000 common shares of the Company to Mr.
William J. Radvak, President and Chief Executive Officer of the
Company, in connection with his new executive employment agreement
with the Company and on the terms described in the Management
Information Circular of the Company dated November 12, 2013.
Issuance of these shares is subject to TSX Venture Exchange
approval.
The Private Placement
is expected to close on or about January 15,
2014 subject to final due diligence and regulatory
approval.
The securities have
not been registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or
sold in the United States absent registration thereunder or an
applicable exemption from such registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities in the United
States.
About American Vanadium
Corp.
American Vanadium is
an integrated energy storage company that markets and sells
GILDEMEISTER'S CellCube vanadium redox flow batteries in North
America. American Vanadium is developing the only vanadium mine in
the United States, providing a critical source of vanadium
electrolyte for CellCube energy storage systems. The Company's
Gibellini Vanadium Project, located in Nevada, is being designed to
economically produce vanadium electrolyte for the energy storage
industry, as well as vanadium products for the steel and alloying
industries.
ON BEHALF OF THE BOARD
Bill Radvak,
President and CEO
For further information, please contact:
Dan Schieber, Director,
Corporate Finance
(604) 681-8588 X 106
dschieber@americanvanadium.com
www.americanvanadium.com
NEITHER TSX VENTURE
EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
Forward-Looking Statements: This press release
contains "forward-looking information" within the meaning of
applicable Canadian securities laws, including statements with
respect to future plans and objectives for the Gibellini Project
and the energy storage business. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements of
American Vanadium to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking information. Forward-looking information includes
estimates of mine production rates and mine life, revenues from
future mining operations, capital and operating costs, and
pay-back period. Factors
that may cause actual results to vary include, but are not limited
to, changes in project parameters as plans continue to be refined;
future prices of vanadium; possible variations in reserves, grade
or recovery rates; changes to capital and operating cost estimate,
delays in obtaining governmental approvals or financing or in the
completion of development or construction activities. We may not
have adequate capital, financing or cash flow to sustain our
business or implement our business plans. Statements contemplating
or making assumptions regarding actual or potential sales, market
size and demand, prospective business contracts, customer orders or
trends in the energy storage market constitute forward looking
statements. Our actual results may differ from those indicated in
forward looking statements as the energy storage and renewable
energy generation business is subject to significant economic,
competitive, regulatory, business and industry risks which are
difficult to predict and many of which are beyond our control. Our
business performance may be adversely affected by a general decline
in the economy, unavailability of capital or financing for
prospective customers to purchase products and services from us,
competition, changes in regulations, a decline in the demand for
energy storage and other risks. Although American Vanadium has
attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-
looking statements, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. American
Vanadium does not undertake to update any forward- looking
statements, except in accordance with applicable securities
laws.
THIS
PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN
OFFER OF THE SECURITIES DESCRIBED HEREIN.
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