CleanTech Vanadium Mining Corp. has closed the first tranche of its non-brokered private placement, raising gross proceeds of $298,500 through the sale of 2,985,000 units at a price of $0.10 per unit.

Each unit delivered under the offering consists of one common share and one transferable common share purchase warrant. The warrants entitle the holder to purchase an additional common share at a price of $0.15 for a period of three years from the date of issuance.

An officer and director of CleanTech subscribed for 800,000 units under the first tranche for gross proceeds of $80,000. This insider participation constitutes a related-party transaction under Multilateral Instrument 61-101, which governs the protection of minority security holders in special transactions. CleanTech relied on exemptions from the formal valuation and minority shareholder approval requirements, citing that neither the fair market value of the units acquired by the insider nor the consideration paid exceeded 25% of the company's market capitalization.

No finder's fees were paid in connection with the first tranche closing. The securities issued are subject to a regulatory hold period expiring on December 26, 2026, in accordance with applicable securities laws.

CleanTech intends to use the net proceeds of the financing for general corporate purposes, while explicitly excluding any use of the funds to support transactions requiring approval from the TSX Venture Exchange. The company plans to close the final tranche of the offering on or before September 10, 2026, subject to receiving all necessary regulatory approvals, including the formal consent of the TSX Venture Exchange.

The financing supports CleanTech’s wider operational footprint. The company holds options to acquire more than 17,550 acres of mineral rights containing historic fluorspar resources across multiple projects in the Illinois-Kentucky Fluorspar District, alongside full ownership of the Gibellini Vanadium Mine Project in Nevada.

To advance these assets, CleanTech appointed Jason Reid as Special Advisor in January 2026 to help start up its fluorspar project in Kentucky. Mr Reid brings two decades of corporate leadership, capital markets, mine building, and operational experience to the team.

In parallel with its project development efforts, CleanTech intends to pursue U.S. Department of Energy funding opportunities, maintaining an initial focus on its critical-minerals projects within the Illinois-Kentucky Fluorspar District following federal initiatives to strengthen domestic supply chains.

Read the full announcement: CleanTech Closes First Tranche of Non-Brokered Private Placement for Gross Proceeds of $298,500