American Vanadium Retains Market Maker
American Vanadium Retains Market Maker
VANCOUVER, British Columbia--(BUSINESS WIRE)-- AMERICAN VANADIUM CORP. ("American Vanadium" or the "Company") (TSX.V: AVC) (OTCQX: AVCVF) is pleased to announce that it has retained Questrade, Inc. to provide market-making services, in accordance with TSX Venture Exchange ("Exchange") guidelines. Questrade will buy and sell shares of the Company on the Exchange for the purpose of facilitating trading, or providing liquidity in the Company's shares.
The term of the agreement is one year, beginning October 1, 2012, at a cost of $5,500 per month. Questrade will not receive shares or options as compensation. The Company and Questrade are unrelated and unaffiliated entities, but Questrade and its clients may have or may acquire a direct interest in the Company's securities.
The agreement is subject to the approval of the TSX Venture Exchange.
About American Vanadium Corp.
American Vanadium is developing the only primary vanadium mine in the United States. The Company's Gibellini Project, located in Nevada, is being designed to economically produce vanadium products for the chemical and titanium alloying industries, as well as vanadium electrolyte for the energy storage industry.
This strategic asset gives American Vanadium the opportunity to vertically integrate into the highest value market, mass energy storage. The Company will focus on producing vanadium electrolyte, powders, crystals and oxide pellets for premium markets such as grid scale flow battery systems, chemical and pollution control applications as well as for the aerospace and defense industry.
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".
About Questrade
Questrade Inc., provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms. Questrade offers market making services on behalf of TSX and TSX Venture Exchange listed companies, providing liquidity on the stock exchange for shareholders.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
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 statements regarding the expected use of proceeds from the Private Placement, and future plans and objectives for the Gibellini Project. 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, actual results of current exploration activities; conclusions of economic evaluations; 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 estimates; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. 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.
American Vanadium Corp.
Bill Radvak, 604-488-5417
President & CEO
bradvak@americanvanadium.com
or
Mike Hyslop, 604488-8795
Director, Corporate Development
mhyslop@americanvanadium.com
www.americanvanadium.com
or
Questrade Inc.
Eitan Spiro, 416-227-9876 x855
Toll free 1-888-783-7866 x855
647-776-7720
Market Making Sales Representative
espiro@questrade.com
KEYWORDS: United States North America Canada Washington
INDUSTRY KEYWORDS:
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