Vector may raise C$6.62 million through placement at C$0.18 per share

Company also announces planned reverse takeover by Tectonica Australia

By Devika Patel

Knoxville, Tenn., Sept. 21 – Vector Resources Inc. will raise about C$6,615,200 in a private placement, according to a press release.

The company will sell securities at a contemplated price of C$0.18 per share.

Proceeds will be used to establish North American and European marketing and business development offices, for research and development and for general working capital purposes.

The company also signed a letter of intent with Tectonica Australia Pty. Ltd. on Sept. 21 that will result in a reverse takeover of Vector by the shareholders of Tectonica.

Vector is a Toronto capital pool company.

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