Vanadiumcorp Shareholder Files Dissident Circular

Article content

Urging shareholders to vote on the relevant shareholder proxy to strengthen the Board of Directors with three new, highly qualified candidates

VANCOUVER, British Columbia, June 12, 2024 (GLOBE NEWSWIRE) — ATM Mining Corp.ATM“or the”Concerned shareholder“), a Vancouver-based resources company and a significant shareholder of VanadiumCorp Resource Inc. (TSXV: VRB) (“Vanadium company“or the”a companyToday it announced that it has issued a media circular (“Dissident circular“) on SEDAR+, as well as a proxy form and letter to VanadiumCorp shareholders in connection with the Company's upcoming general and special annual meeting of shareholders scheduled for July 2, 2024 (“Ordinary General Assembly“).The concerned shareholder seeks to improve the quality of VanadiumCorp's management by appointing new directors who have the ability to put the company on track to realize its great potential.

Article content

ATM is seeking the support, through the relevant shareholder proxy, of three exceptional candidates for election as directors of the company at the annual general meeting: Pierre Allary, Ian Graham, and Ian Mallory. Please review the cover letter and CVs of these highly qualified and experienced proposed candidates set forth in the Dissident Bulletin. ATM also supports the re-election of three current directors: Gilles Dupuy, Christian Paradis, and Stephen Pearce.

The relevant shareholder believes that it is in the best interest of the company to implement the following specific actions:

• Strengthen the Company's Board of Directors with senior executives with deep experience in the mining and energy sectors and committed to responsible management of the Company.
• Formulate a realistic financing plan that will have the best chance of putting the company on a sustainable financial footing, while minimizing further dilution to shareholders.
• Upgrade the company's commercial capacity for its new vanadium electrolyte product – especially in marketing, customer relations and sales – so that a positive initial market presence can be achieved, profitable sales can be concluded and revenues can be received in 2024.
• Appoint a new President and CEO, based in Quebec, with experience in business leadership, early-stage corporate finance, mining/metals, and industrial production.

Article content

Article content

“Under the current CEO, shareholders have lost two-thirds of their investment over the past two years with little prospect of improvement,” said Craig J. Dalzell, president of ATM. ATM believes that, with sound management, VanadiumCorp has a real opportunity to become a global leader in the emerging market for vanadium electrolyte, the key ingredient in long-lasting vanadium flow batteries, and to deliver significant shareholder value. We urge VanadiumCorp shareholders to support our slate of directors for election at the upcoming Annual General Meeting.

Shareholders are urged to read the dissident post and only vote via the relevant shareholder proxy on or before 5:00 PM (Vancouver time) on June 27, 2024, so that their vote can be accepted before the proxy is cut off. Shareholders who have already voted and wish to change their vote to support the three relevant shareholder nominees may do so simply by executing the relevant shareholder proxy, where a subsequently determined relevant shareholder proxy will void the previous vote. Shareholders who require any assistance in implementing their respective stockholder proxy may contact Craig J. Dalziel, President of ATM, at 778-732-3339. A copy of the Dissident Circular publication is available on VanadiumCorp's SEDAR+ profile at: www.sedarplus.ca.

Article content

communication:
Mining company ATM
Craig J. Dalzell, President
Phone: 778-732-3339

Forward-looking statements

Certain statements in this press release constitute forward-looking statements. The words “may”, “could”, “could”, “will”, “intend”, “plan”, “expects”, “believes”, “estimates”, “anticipates” and similar expressions relating to the stakeholder are intended by the shareholders. , VanadiumCorp or future management of VanadiumCorp, to identify forward-looking statements. These statements reflect the current views of the relevant shareholder with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause VanadiumCorp's actual results, performance or achievements that may be expressed or implied by such forward-looking statements to differ from those described herein if one or more of these risks or uncertainties materialize. These factors include, but are not limited to, general economic and market conditions, changes in law, actions of competitors, and the ability to implement business strategies and pursue business opportunities.

The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements in this press release are made as of the date hereof and the relevant stockholder undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

Article content