Prophecy Development Corp. said Feb. 15 that it expanded its Gibellini vanadium project in Nevada by acquiring an additional 105 unpatented lode mining claims adjacent to the project.
The company acquired 1104002 B.C. Ltd., a privately held British Columbia-based company, and its Nevada-based subsidiary.
Prophecy paid C$335,661 and issued 50,000 share purchase warrants as consideration, in addition to settling C$14,338 in debt owed by the acquired companies.
Each warrant entitles the holder to acquire an additional share at an exercise price of C$5.00 apiece until Feb. 15, 2021.
Prophecy now controls over eight square kilometers of contiguous parcel and plans to start the environmental process for the Gibellini project this year.