CleanTech Vanadium raises $433K in first tranche of private placement

CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) has closed the first tranche of a non-brokered private placement, raising gross proceeds of $433,033 through the sale of 3,936,667 units at $0.11 per unit, according to a press release dated July 21, 2026.

Each unit consists of one common share and one transferable warrant entitling the holder to purchase one additional share at $0.15 for three years from the date of issuance.

Oracle Commodity Holding Corp., an insider and control person of the company, subscribed for 2,466,667 units for gross proceeds of $271,333, constituting a related party transaction under Multilateral Instrument 61-101. Oracle's stake increased from approximately 28.28% to 29.14% of issued and outstanding common shares on an undiluted basis, or approximately 30.25% on a partially diluted basis assuming full exercise of Oracle's warrants.

The company relied on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, citing that the fair market value of units acquired by Oracle did not exceed 25% of the company's market capitalization.

Canaccord Genuity Corp. received a finder's fee for introducing subscribers to 1,120,000 units, consisting of 89,600 finder's units representing 8% of those units sold. Securities issued are subject to a regulatory hold period expiring November 22, 2026.

Net proceeds will be used for general corporate purposes. The company may complete additional tranches of the offering, subject to regulatory approval.

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