American Vanadium Corp. reported that it has closed its previously announced non-brokered private placement. It has completed the first tranche and has issued a total of 8,130,000 units at the price of CAD 0.50 per unit for total gross proceeds to the company of approximately CAD 4,065,000.

Contemporaneously with the closing of the private placement, Brett Whalen, a nominee of Dundee Corporation ('Dundee'), has been appointed to serve on the Board of Directors of the company.