American Vanadium Announces a Private Placement of up to $1.6 million

American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF)announced a non-brokered private placement of up to of $1.6 million consisting of 2,000,000 units at the price of CDN$0.80 per unit.

As quoted in the press release:

Each Unit consists of one common share (“Common Share”) in the capital of the Company and one-half of a share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at the price of CDN$1.20 each for a period of 12 months from closing.

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