CleanTech Vanadium raises $298,500 in first tranche placement

CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) has closed the first tranche of a non-brokered private placement, raising gross proceeds of $298,500 through the sale of 2,985,000 units at $0.10 per unit.

Each unit consists of one common share and one transferable common share purchase warrant, with each warrant exercisable at $0.15 per share for three years from the date of issuance.

An officer and director of the company subscribed for 800,000 units for gross proceeds of $80,000, constituting a related party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements, as the value of units acquired did not exceed 25% of the company's market capitalization. A material change report will be filed in connection with the transaction.

Securities issued in the first tranche are subject to a regulatory hold period expiring December 26, 2026. No finder's fees were paid.

The company said net proceeds will be used for general corporate purposes. A final tranche is expected to close on or before September 10, 2026, subject to regulatory approval, including approval from the TSX Venture Exchange.

You May Also Be Interested In

• Southern Cross Acquisition II prices $75M IPO on Nasdaq
• Helium Evolution closes $25M private placement with new investors
• After-Hours Movers: INTU, SMTC, SYRE, ZM, NCNO