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Additional Information
Market: TSX-V
Sector: General Mining
EPIC: AVC
Latest Price: 0.77  (0,00%)
52-week High: 1.85
52-week Low: 0.69
Market Cap: 20.54M
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American Vanadium
www.americanvanadium.com

American Vanadium Corp., formerly Rocky Mountain Resources Corp., is a Canada-based junior mining company. As of November 30, 2010, the Company’s main focus was the development of its Gibellini Project, located in Eureka County, Nevada. In June 2010, the Company initiated a bulk sampling program, comprising collection of samples from both oxide, and transition vanadium zones from four different trenches on the project, and a diamond drill program, which was two-phased. On September 9, 2010, the Company announced that it initiated a feasibility study of its Gibellini Project. In November 2009, the Company sold its interest in the Paris Hills mineral property to Stonegate Agricom Ltd (Stonegate). On September 29, 2010 the Company announced the acquisition of the Del Rio Property, a new vanadium project located approximately eight miles south of the Gibellini Project.

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Western Lithium Canada to acquire Vanadium junior Rocky Mountain Resources

23rd Oct 2009, 9:59 am by Jamie Ashcroft
Western Lithium Canada to acquire Vanadium junior Rocky Mountain Resources

This morning, Western Lithium Canada Corporation (TSX-V: WLC) and Rocky Mountain Resources Corp. (TSX-V: RKY) announced that they have entered into a non-binding letter of intent, in which Western Lithium proposes to acquire all of the outstanding shares of Rocky Mountain.


Western Lithium is developing the Kings Valley, Nevada lithium deposit, and has ambitions to be a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of mobile electronics and hybrid/electric vehicles.


Rocky Mountain's primary asset is the Gibellini development stage Vanadium project in Nevada. The companies believe that a combination of Nevada based strategic metals for applications in electrical storage and other industrial uses will provide operational and corporate synergies.


Vanadium has the potential to become an important element for future battery chemistries together with lithium-ion chemistries.


The consideration to Rocky Mountain shareholders represents a premium of 43% on Rocky Mountain's closing price on October 22, 2009. The total number of shares Western Lithium would issue under the transaction is approximately 6,749,091.


Rocky Mountain's Board of Directors have approved the proposed merger and upon entering into a definitive agreement will enter into specific support agreements agreeing to vote their shares in favour of the merger.


At closing, all Rocky Mountain common shares will be automatically exchanged for Western Lithium shares on the basis of 0.4032 Western Lithium shares for each Rocky Mountain share. All warrants of Rocky Mountain will be exchanged for similar warrants of Western Lithium, based on the same exchange ratio.


Completion of the transaction is conditional upon satisfactory completion of due diligence, the negotiation and execution of a definitive agreement and receipt of Rocky Mountain shareholder approval as well as other customary conditions and regulatory approvals. The special shareholder meeting of Rocky Mountain to vote on the transaction is expected to be held in early January 2010.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

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