2023-07-31 05:37:02
Vancouver, British Columbia and Val-des-Sources, Québec – TheNewswire – July 31, 2023 – VanadiumCorp Resource Inc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) (“VanadiumCorp” or the “Company”) is pleased to announce that the Company has received a grant of $500,000 to support the development of its vanadium electrolyte production plant in Val-des-Sources, Québec. The grant from PRIMA will help ensure that the Company’s production process will be state-of-the-art and will contribute to an environmentally friendly circular economy.
The financial assistance comes from the support program for research and development for the circular economy applied to the sectors of critical and strategic minerals of the Ministry of Natural Resources and Forests of Québec, which is administered by PRIMA Québec.
The Company’s new production facility will operate in partnership with Carrefour d’innovation sur les matériaux de la MRC des Sources (CIMMS), and is expected to be in production in early 2024. It will produce high-quality vanadium electrolyte for use in vanadium redox flow batteries (VRFB). VFRBs are the new generation of long-duration batteries that are currently being deployed around the world to support the storage of renewable energy.
Gilles Dupuis, P. Eng., the Chief Operating Officer of the Company, said “This assistance is another demonstration of the tremendous leadership of the Government of Québec in supporting the development of new battery technologies and manufacturing. This will help put vanadium from Québec on the world’s green energy map.”
“Vanadium electrolyte produced in Québec will become a key component in the international battery industry. Supporting this development in Québec will help diversify our industrial base and contribute to the establishment of a circular economy”, said Marie-Pierre Ippersiel, President and CEO of PRIMA Québec.
About PRIMA Québec
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. will produce a reliable stream of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium redox flow batteries (VRFB). The Company’s first electrolyte production facility is based in Val-des-Sources, Québec. Stable, long-term access to vanadium feedstock for the electrolytes is assured, success-contingent on developing our wholly-owned vanadium-titanium-iron mineral deposits, including our flagship Lac Doré deposit near Chibougamau, Québec. The Company’s electrolyte plant will also be used to test the quality of Lac Doré pilot plant outputs and to reprocess electrolytes.
An introduction to the Company by our Executive Chairman, Ian Mallory, can be viewed as a Greenshoe Media Group video at: https://www.youtube.com/watch?v=-gjU26_osDc
On behalf of the Board of VanadiumCorp Resource Inc.
Paul McGuigan, P.Geo.
CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.
Company addresses:
Suite 303 – 5455 West Boulevard
Vancouver, British Columbia V6M 3W5
Canada
3 rue de Boisé,
Marieville, Québec J3M 1S7
Canada
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Company website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Forward-Looking Statements
difficult to predict and that may be beyond VanadiumCorp’s control. Although VanadiumCorp has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, undue reliance should not be placed on these forward-looking statements. In addition, all forward-looking statements in this press release are made as of the date of this press release. VanadiumCorp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.