CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) has announced the closing of the third and final tranche of its non-brokered private placement, raising CAD $215,000 in the final tranche alone. Combined with the first and second tranches, the company has raised gross total proceeds of CAD $803,500 under the offering. The completion of the financing provides CleanTech with additional working capital as it advances its critical minerals projects in the United States.

Key Points

  • CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF)
  • The company closed the third and final tranche of its non-brokered private placement on September 29, 2026, completing the offering
  • Total gross proceeds of CAD $803,500 raised across all three tranches; final tranche issued 2,150,000 units at CAD $0.10 per unit
  • Investors may watch how the company deploys proceeds for general working capital across its Nevada and Illinois-Kentucky projects

Final Tranche Unit Structure and Warrant Terms

The third tranche saw CleanTech issue 2,150,000 units at CAD $0.10 per unit, generating gross proceeds of CAD $215,000. Each unit comprises one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD $0.15 for a period of three years from the date of issuance. All securities issued under the offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

Insider Participation and Related Party Transaction Disclosure

Company insiders subscribed for a total of 2,800,000 units across all three tranches, representing aggregate gross proceeds of CAD $280,000. The company disclosed that insider participation constitutes a related party transaction under Multilateral Instrument 61-101. CleanTech relied on exemptions from formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(a) of MI 61-101, on the basis that insider participation did not exceed 25% of the fair market value of the company's market capitalisation. The company stated it will file a material change report in connection with the related party transaction.

Finder's Fees and Use of Proceeds

In connection with the final tranche, CleanTech issued 12,000 finder's units to a finder as compensation. Each finder's unit consists of one common share and one non-transferable share purchase warrant exercisable at CAD $0.15 per share for 36 months from the date of issuance. The company stated proceeds from the offering will be used for general working capital purposes. CleanTech holds a 100% interest in the Gibellini Vanadium Mine Project in Nevada and holds an option to acquire more than 17,550 acres of mineral rights in the Illinois-Kentucky Fluorspar District.