CleanTech Announces $1 Million Non-Brokered Private Placement
Rhea-AI Summary
CleanTech Vanadium Mining (TSXV: CTV, OTCQB: CTVFF) announced a non-brokered private placement to raise up to $1,000,000 through the sale of up to 10,000,000 units at $0.10 per unit. Each unit includes one common share and one transferable warrant exercisable at $0.15 per share for three years.
Insiders are expected to subscribe for 1.5 million units, making the financing a related-party transaction under MI 61-101, for which CleanTech expects to rely on valuation and minority-approval exemptions. The financing may include finder’s fees, is subject to TSX Venture Exchange approval, and all securities will carry a four-month-plus-one-day hold. Net proceeds are earmarked for general corporate purposes. CleanTech also chose to close previously announced private placements totaling $433,033.37 in gross proceeds.
Positive
- Non-brokered placement to raise up to $1,000,000 at $0.10 per unit
- Each unit includes a three-year warrant exercisable at $0.15 per share
- Insiders expected to subscribe for 1.5 million units
- Previously announced private placements closed for $433,033.37 gross proceeds
Negative
- Potential issuance of up to 10,000,000 new shares plus 10,000,000 warrants
- Offering and related-party participation remain subject to TSX Venture Exchange approval
- New securities, including any finder’s units, subject to four-month-plus-one-day hold period
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") to raise gross proceeds of up to
Insiders of the Company (the "Insiders") are expected to subscribe 1.5 million units in the Offering. The issuance of Units to the Insiders will be considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").
The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the "related-party transactions" under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be acquired by the participating Insiders nor the consideration to be paid by such Insiders is anticipated to exceed 25 percent of the Company's market capitalization. The Company will file a material change report in respect of the related party transaction.
The Company may elect to pay finders' fees to certain eligible finders in accordance with the policies of the TSX Venture Exchange.
The Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued under the Offering, including any Finder's Units, will be subject to a regulatory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
The Company intends to use the net proceeds of the Offering for general corporate purposes.
Company also announces it has chosen to close the private placement previously announced on June 16, July 6, and July 21, 2026, with aggregate gross placement proceeds of
About CleanTech Vanadium Mining Corp.
CleanTech is a mining company focused on discovering, producing, and supplying critical mineral resources from within and to the United States. The Company has an option to acquire more than 17,550 acres of mineral rights with historic Fluorspar resources across multiple projects in the Illinois-Kentucky Fluorspar District. CleanTech also owns a
Further information on CleanTech can be found at www.cleantechctv.com.
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
Chief Executive Officer
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
Email: info@cleantechvanadium.com
Neither the 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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding CleanTech's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking information in this news release include the expected gross proceeds of the Private Placement, use of proceeds raised from the Private Placement, and the participation and by certain insiders who are directors of the Company in the Private Placement and the amount of such participation.
Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: market conditions and investor sentiment; changes in business plans; ability to secure sufficient financing to advance the Company's investment business; and general market and economic conditions. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis, available on SEDAR at www.sedarplus.ca.
Forward-looking statements are based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward- looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310663