Global Vanadium Corp (CVE:GLV) is a company that focuses on mining operations. Windfire Capital Corp has been this company’s name since its establishment only to be changed on October 2018. It has its headquarters in Vancouver, Canada. The announcement today is about the acquisition of a Vanadium Project. It is in Utah, and the business hopes to attain a lot of economic benefits from the deal.
The deal with shareholders
It makes a move after holding consultations with its shareholders-those of the outstanding as well as for the issued shares. In this deal, the company intends to give all its vendors a pro-rata. Each vendor obtains his/her share depending on the amount of interest in the shares.
The figures associated with the deal were 7,000,000 in terms of the common shares and Cdn$80,000 in cash payment. Market observers applaud the company’s recent move to purchase 114 shares. The business guru believes it is now easier buying about 97 Lode Claims in Utah specifically in Garfield County.
Global Vanadium Corp targets the 2,004 acres of the Desert Eagle Project which reportedly bears high levels of vanadium.
Business decisions made over time
Back in October last year, the company started laying down plans towards the purchase of the 114 shares. It resorted to making cash payments as well as the issuance of its shares. Its CEO says that the expiry date of their shares will be on February 10, 2019. Of course, this implies that there was an exchange hold period of almost four months.
The first big deal was basically to incorporate Global Vanadium Nevada, Corp. Secondly; it was about the successful transfer of claims to this newly incorporated subsidiary. The deal is now already complete with the business guru investing a lot of trust in the Desert Eagle Project.
One interesting attribute about the Desert Eagle Project is the early discovery of its uranium and vanadium. Sources indicate that the mining started in 1900 moving forward. However, much of the activities here during those early times were not reported.
The company hopes to move fast in completing the project’s report.