American Vanadium Engages Scarsdale Equities Llc
(via Thenewswire.ca)
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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.
Copyright (c) 2013 TheNewswire - All rights reserved.
