American Vanadium Closes Non-Brokered Private Placement
AMERICAN VANADIUM CORP. (the 'Company?) (TSX.V: AVC) (Pink
Sheets: RMRCF) is pleased to announce the completion of the non-brokered
private placement (the 'Offering?) previously announced on August 23,
2011. Upon closing of the Offering, 667,000 units ('Units?) were issued
at a price of $1.50 per Unit, with each Unit consisting of one common
share (a 'Common Share?) and one-quarter of a non-transferable common
share purchase warrant (each whole warrant, a 'Warrant?), for gross
proceeds to the Company of $1,000,500. Each Warrant entitles the holder
thereof to purchase one Common Share at an exercise price of $2.00 each
until February 28, 2013.
All securities issued in connection with the Offering are subject to a
four-month hold period, expiring January 1, 2012. The proceeds of this
offering will be used to fund further development of the Company's
Gibellini ?Vanadium Project.
About American Vanadium Corp.
American Vanadium is currently developing the Gibellini Vanadium
Project, a vanadium resource located in Nevada, USA. Vanadium is a
critical alloying metal used to strengthen steel and is also growing in
importance in the emerging uses of mass energy storage and next
generation lithium-vanadium batteries. The Company′s Gibellini Vanadium
Project is unique in its ability to have economic production of vanadium
for the steel and alloying industries as well as vanadium electrolyte
for the mass storage industry.
ON BEHALF OF THE BOARD
'Bill Radvak?
Bill Radvak, President and CEO
Forward-Looking Statement
This press release contains 'forward-looking information? within the
meaning of applicable Canadian securities laws, including statements
regarding the expected use of proceeds from the Offering, and future
plans and objectives for the Gibellini Project. 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. Factors that may cause actual results to vary include, but
are not limited to, actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as
plans continue to be refined; future prices of vanadium; possible
variations in reserves, grade or recovery rates; delays in obtaining
governmental approvals or financing or in the completion of development
or construction activities. 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.
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.
American Vanadium Corp.
Mike Hyslop, Director, Corporate
Development
Phone: 604.488.8795
Email: mhyslop@americanvanadium.com