Vancouver, BC / ACCESSWIRE / February 12, 2015 / AMERICAN VANADIUM CORP. ("American Vanadium" or the "Company") (AVC.V) (AVCVF) is providing the following operational and financial update.
The Company is focusing its efforts on the near term sales pipeline of the CellCube vanadium flow batteries and remains optimistic with respect to its ability to close on one or more of these opportunities. With respect to the Gibellini Vanadium Project, the Company has recently achieved its initial near term metallurgical process development goals with respect to its vanadium electrolyte production program. Additional work on the electrolyte process will be required but will not be initiated at this time.
Due to difficult market conditions and financial constraints, the Company has significantly reduced its workforce and other costs where possible. The Company will require additional financing for general and administrative, for development costs associated with Gibellini property, and ongoing operational expenses.
About American Vanadium Corp.
American Vanadium is an integrated energy storage company and the Master Sales Agent in North America for GILDEMEISTER energy solution's CellCube energy storage system. The CellCube is the world's leading commercially available vanadium flow battery, providing long duration solutions over a 20+ year life for a broad range of applications including renewable energy integration and demand charge reduction. CellCube is a powerful, durable and reliable energy storage system that ensures a clean, emission-free energy supply at all times. American Vanadium is developing the Gibellini Vanadium Project in Nevada to be the only dedicated vanadium mine in the United States, providing a critical source of vanadium electrolyte for CellCube energy storage systems.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact: Mike Hyslop, Director, Business Development
(604) 681-8588 X 102
mhyslop@americanvanadium.com
www.americanvanadium.com
NEITHER THE 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 HEREIN.
SOURCE: AMERICAN VANADIUM CORP.