TORONTO, May 23, 2018 (GLOBE NEWSWIRE) — This press release is being disseminated in accordance with National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues, in respect of the filing of an early warning report (the “Early Warning Report”) for the disposition of an aggregate of 3,262,000 common shares (the “Common Shares“) in the capital of Vanadium One Energy Corp. (“Vanadium”) by Marquest 2017-I Mining Super Flow-Through Limited Partnership – Québec Class (“Marquest”) on May 23, 2018.
The Early Warning Report shall disclose, that on May 23, 2018, Marquest sold to several arms-length parties, through the public market on the TSX Venture Exchange (the “Disposition“), 3,262,000 Common Shares in the capital of Vanadium in exchange for cash consideration of CDN$195,720 (being, CDN$0.06 per Common Share), and certain changes of information and material facts related to the ownership and control over the Common Shares that were contained in the most recent early warning report that was filed on SEDAR by Marquest on January 4, 2018.
Prior to the Disposition, Marquest had direct control of 4,545,454 Common Shares in the capital of Vanadium, representing approximately 13.19% of the then issued and outstanding common shares of the Issuer on a non-diluted basis.
As a result of the Disposition, Marquest owns or controls, directly or indirectly, 1,283,454 Common Shares, representing approximately 3.7% of the issued and outstanding shares of Vanadium on a non-diluted basis. The Disposition was made for investment purposes only. Marquest may, from time to time, take such actions in respect of their holdings in securities of Vanadium, as they may deem appropriate, in light of the circumstances then existing, including the purchase of additional common shares or other securities of Vanadium or the disposition of all or a portion of their securities in Vanadium, subject in each case to applicable securities laws and the terms of such securities.
A copy of the Early Warning Report of Marquest will be filed under applicable securities laws and containing additional information related to the above matters, under Vanadium’s profile on SEDAR (www.sedar.com). To request a copy of these Early Warning Report you can contact Marquest at (416) 777-7350.