CleanTech Vanadium Mining Corp. is seeking up to $1,000,000 in a non-brokered private placement, selling as many as 10,000,000 units at $0.10 each, according to an August 20, 2026 release. A non-brokered financing is one arranged by the company itself rather than through an investment dealer.
Each unit combines one common share with one transferable warrant exercisable at $0.15 for three years. A warrant is the right, not the obligation, to buy an additional share at a set price. At full subscription the offering would issue 10 million shares immediately and put another 10 million shares in reserve against warrant exercise. The release does not state the company's current share count, so the resulting dilution cannot be calculated from the disclosure itself.
The warrant strike sits 50 percent above the unit price, meaning the warrants only produce further cash for the company if the shares trade above $0.15 during the three-year window.
Insiders are expected to subscribe for 1.5 million units, or $150,000 of the offering, representing 15 percent of the maximum raise. Because directors and officers are participating, the subscription is a related party transaction under Multilateral Instrument 61-101, the Canadian rule that protects minority shareholders in transactions involving insiders.
The company says it expects to rely on exemptions from minority shareholder approval and formal valuation under sections 5.5(a) and 5.7(1)(a) of that instrument, on the basis that neither the value of the units the insiders acquire nor what they pay for them is anticipated to exceed 25 percent of CleanTech's market capitalization. A material change report will be filed in respect of the transaction.
Net proceeds are earmarked for general corporate purposes, with no allocation to a specific project disclosed. For a company holding exploration-stage assets, that phrasing leaves open whether the money funds fieldwork, option payments or overhead.
CleanTech may pay finders' fees under TSX Venture Exchange policy; no rate is given. The offering requires exchange approval and other consents, and securities issued, including any finder's units, carry the standard four-month-and-one-day resale hold period.
Earlier financing closed below the new target
In the same release, CleanTech said it has elected to close the private placement it had announced on June 16, July 6 and July 21, 2026. That financing brought in aggregate gross proceeds of $433,033.37.
The company did not restate the original size sought in that earlier offering, its pricing, or the terms of any securities issued under it, so the shortfall against target cannot be measured from this document. The sequence of three announcements over five weeks followed by a decision to close is the visible fact; the reason for closing is not given.
Taken together, the two items describe a company raising in small increments. The prior round produced less than half of what the new round is attempting, and the new round has not yet received exchange approval or disclosed any subscriptions beyond the anticipated insider portion.
The assets behind the raise
CleanTech describes itself as focused on critical minerals in the United States. It holds an option to acquire mineral rights over more than 17,550 acres with historic fluorspar resources across several projects in the Illinois-Kentucky Fluorspar District, and owns a 100 percent interest in the Gibellini vanadium project in Nevada. The description of the fluorspar resources as historic means they have not been verified to current reporting standards, and the acreage is under option rather than owned.
No exploration results, expenditure commitments, cash balance or burn rate are included in the release, and no timeline is given for closing the new offering beyond the conditions described. John Lee is chief executive officer. The shares trade on the TSX Venture Exchange and on the OTCQB market in the United States.
Source: Newsfile
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