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CleanTech Vanadium Mining Raises C$298,500 in First Private Placement Tranche

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CleanTech Vanadium Mining (CTV.V) after trade Tuesday said it closed the first tranche of its private placement and raised C$298,500 through the sale of nearly 3 million units at C$0.10 each.

Each unit includes one common share and one warrant, with the warrant exercisable at C$0.15 for three years, the company added.

The funds will be used for general corporate purposes. The securities are subject to a hold period until Dec. 26, the company said, adding that it expects to close the final tranche by Sept. 10, subject to regulatory and TSX Venture Exchange approval.

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