American Vanadium Engages Scarsdale Equities LLC
08 June 2013 - 7:40AM
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June 7, 2013 - American Vanadium Corp. ("American Vanadium")
(TSX.V: AVC) (OTCQX: AVCVF), announced it has engaged the services
of Scarsdale Equities LLC ("Scarsdale) as a non-exclusive capital
market advisor and entered into a consulting agreement (the
"Agreement") for a term of 12 months. Scarsdale will act as
American Vanadium's Principal American Liaison ("PAL") in
connection with its continued eligibility for trading on the OTCQX
and assist the Company in complying with its ongoing OTCQC
disclosure obligations under current federal and state securities
laws.
Pursuant to the Agreement, American Vanadium will pay Scarsdale
a monthly fee, as well as a fee of $35,000 payable in common shares
of the Company (the "Compensation Shares") in connection with
services rendered in the first 90 days after execution of the
Agreement. The number of the Compensation Shares to be issued to
Scarsdale shall be equal to the dollar amount of $35,000 based on a
30 day volume weighted average price for the Company's shares prior
to when the payment is due. Pursuant to the policy of the TSX
Venture Exchange (the "Exchange"), the deemed price of the
Compensation Shares must not be less than the Discounted Market
Price (as defined in the Exchange's policy) at the time payment is
due. The issuance of the Compensation Shares is subject to the
approval of the Exchange.
About American Vanadium Corp.
American Vanadium is developing the only vanadium mine in the
United States. The Company's
Gibellini Project, located in Nevada, is being designed to
economically produce vanadium electrolyte for the energy storage
industry, as well as vanadium products for the steel and alloying
industries. A positive Feasibility Study and updated National
Instrument 43-101 on the Gibellini Project were completed by AMEC
E&C Services in 2011.
American Vanadium trades on the TSX Venture Exchange as a
tier-one company under the symbol "AVC", the OTCQX Market under the
symbol "AVCVF" and the Frankfurt Stock Exchange under the symbol
"0UA".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:Bill Radvak, President
& CEO
Phone: (604) 681-8588 X 101
Email: bradvak@americanvanadium.com
or
Mike Hyslop, Director, Corporate Development
Phone: (604) 681-8588 X 102
Email: mhyslop@americanvanadium.com
Web site: www.americanvanadium.com
NEITHER 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 OF
THIS RELEASE.
Forward-Looking Statements: This press release contains
"forward-looking information" within the meaning of applicable
Canadian securities laws, including future plans and objectives for
the Gibellini Project and the energy storage business. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Forward-looking information includes estimates of mine
production rates and mine life, revenues from future mining
operations, capital and operating costs, and pay-back period.
Factors that may cause actual results to vary include, but are not
limited to, changes in project parameters as plans continue to be
refined; future prices of vanadium; possible variations in
reserves, grade or recovery rates; changes to capital and operating
cost estimate, delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities. We may not have adequate capital, financing or cash
flow to sustain our business or implement our business plans.
Statements contemplating or making assumptions regarding actual or
potential sales, market size and demand, prospective business
contracts, customer orders or trends in the energy storage market
constitute forward looking statements. Our actual results may
differ from those indicated in forward looking statements as the
energy storage and renewable energy generation business is subject
to significant economic, competitive, regulatory, business and
industry risks which are difficult to predict and many of which are
beyond our control. Our business performance may be adversely
affected by a general decline in the economy, unavailability of
capital or financing for prospective customers to purchase products
and services from us, competition, changes in regulations, a
decline in the demand for energy storage and other risks. Although
American Vanadium has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. American Vanadium does not undertake to update any
forward-looking statements, except in accordance with applicable
securities laws.
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