TORONTO, July 31, 2018 (GLOBE NEWSWIRE) -- VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) announces a new CA$1.5 million non-brokered equity private placement financing (the “Financing”). This placement is for units of the Company (“Units”) at a price of $0.05 per Unit, whereby each Unit consists of one common share and one-half of one common share purchase warrant (a “Warrant”) of the Company. Each full Warrant entitles the holder to purchase one additional common share of the Company for a period of three years, at an exercise price of CA$0.06 per share. The Company has raised to-date about CA$1,150,000 and expects to complete the remaining 350,000 in August.
The Financing is subject to all necessary regulatory requirements, including the acceptance by the TSXV Venture Exchange. No insiders of the Company participated in the Financing. All securities issued pursuant to the offering will be subject to the applicable statutory, exchange and regulatory hold period of four months.
The Equity Financing included units of the Company (“Units”) at a price of CA$0.05 per Unit, whereby each Unit comprises one common share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”) of the Company. Each full Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of CA$0.06 per share for a period of 3 years.
The proceeds of these Financings will be used for ongoing drilling program, maintenance fees and option payments on the Company’s Samalayuca Copper Project, and for fees and work related to its Cumeral and La Tuna projects in Mexico, general administration costs in Canada and Mexico and for working capital.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, including the Samalayuca copper property in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States, Mexico. The Company also has a grassroots gold/VMS prospect in the Timmins area of northern Ontario. Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet - (514) 631-2727
Eugene Braigen - (646) 245-3409
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.