VANCOUVER, BC / ACCESSWIRE / January 15, 2016 / AMERICAN VANADIUM CORP. (AVC.V) (AVCVF) ("American Vanadium" or the "Company") reports that the Company entered into consulting services agreements ("Agreements") dated as of September 5, 2015 and October 15, 2015 with Revelation Business Solutions Ltd. ("Consultant") for the services of Robert G. Pilz as a business advisor of the Company. As part of the remuneration, the Consultant is to be issued an aggregate of 200,000 common shares of the Company pursuant to the terms of the Agreements.
The Company also reports that it will close its previously announced (August 31, 2015) non-brokered private placement ("Private Placement") and issue 805,332 units at the price of CDN$0.08 per unit ("Unit") for gross proceeds to the Company of approximately CDN$65,000. Each Unit consists of one common share in the capital of the Company and one warrant exercisable at $0.10 for a period of 24 months from closing.
All securities issued in connection with the Private Placement and to Revelation Business Solutions Ltd. will be subject to regulatory approval and a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.
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:
Bill Radvak, President & CEO
(778) 888 4101
bradvak@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.