TORONTO, July 28, 2023 (GLOBE NEWSWIRE) -- VVC Exploration Corporation, dba VVC Resources, ("VVC" or the "Company"), (TSX-V:VVC and OTCQB:VVCVF) a major investor in Proton Green, LLC ("Proton Green"), is thrilled to announce that Proton Green has signed a definitive share exchange agreement with Cyber App Solutions (Ticker: CYRB). The agreement signifies a significant milestone for Proton Green, establishing it as a leading publicly traded supplier of helium and beverage grade CO2 in North America.
Under the terms of the all-stock transaction, Cyber App Solutions Corp. will acquire Proton Green, with Proton Green shareholders set to own approximately 94.4% of the combined entity. The current Proton Green management team and Board of Directors will lead the new organization. This strategic move paves the way for a name change to Proton Green, Inc., and a planned ticker change to "PGRN," a symbol that has already been reserved with Nasdaq. Subsequently, Proton Green anticipates a Nasdaq uplisting in the second half of 2023, further solidifying its position in the public markets.
The combined company is poised to become a leader in sustainable helium and beverage grade CO2 production, capitalizing on its exclusive resource rights to the vast 170,500-acre St. Johns field in Arizona. Recognized as one of the largest helium, CO2, and carbon storage reservoirs in North America, the St. Johns field contains an estimated 33 billion cubic feet of helium and 9 trillion cubic feet of CO2 in accessible reservoirs. A notable advantage is that both the helium and CO2 extracted from the St. Johns field are entirely hydrocarbon-free.
Steve Looper, Chief Executive Officer of Proton Green, expressed his enthusiasm about Proton Green's market entry: “We are pleased to enter the public markets through this share exchange agreement, providing the capital markets community with a compelling Helium and CO2 pure-play opportunity. As it stands today with Phase I of Helium production underway, we are now a top 10 Helium producer in North America – with a clear line of sight to becoming the second largest as we scale production in the coming quarters – leveraging fixed-price offtake agreements with two multi-national industrial gas distribution and marketing companies.
“Looking ahead, our vision for Proton Green is clear. We will seek to rapidly scale our helium production, begin beverage grade CO2 production, and set new sustainability benchmarks for the industry with our hydrocarbon-free gases. I firmly believe that we can scale Helium production revenue from hundreds of thousands to millions of dollars per month by year-end. We're set to transform the industry while concurrently driving sustainable value for both our shareholders and their communities," concluded Looper.
As an investor in Proton Green, VVC Resources stands firmly behind the company's vision and recognizes the strategic significance of this share exchange agreement. The move positions Proton Green to capitalize on the growing demand for sustainable helium and beverage grade CO2, paving the way for a prosperous future as a leading supplier in the North American market as well as the potential for Carbon Storage.
"We are thrilled to witness the union of Proton Green and Cyber App Solutions Corp, which marks a defining moment in the sustainable energy sector. As a committed investor in Proton Green, we are confident that this strategic amalgamation will position the combined entity as a dominant player in the North American market for helium and beverage grade CO2. This milestone not only represents a tremendous growth opportunity for the company but also reinforces our dedication to fostering a greener and more sustainable future. We congratulate Steve Looper and his team on this significant milestone,” said VVC CEO, Jim Culver.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com.
About Proton Green, LLC
Proton Green LLC is a leading operator of one of the largest Helium and beverage grade CO2 hubs in North America. The Company maintains exclusive production rights to St. Johns Field, a 170,500 acre property in Arizona with a 33 billion cubic feet helium reservoir, 9 trillion cubic feet CO2 reservoir and a basin with the potential to store 1 billion metric tons of CO2. The Company is currently a top 10 producer of Helium in North America – a high-demand gas in both consumer and critical technology applications – leveraging strategic offtake partners with fixed-price agreements to drive a predictable revenue stream. Notably, both Helium and CO2 produced at St. John’s Field contain no hydrocarbon component. To learn more, please visit our website.
| On behalf of the Board of Directors | ||
| Michel J. Lafrance, Secretary-Treasurer | ||
| For further information, please contact: | ||
| Patrick Fernet - (514) 631-2727 | or | Trevor Burbank - (214) 641-1041 |
| E-mail: pfernet@vvcexploration.com | E-mail: trevor@vvcexpl.com | |
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FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", “strategy”, "success" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others: leading publicly traded of helium and beverage grade CO2 supplier; become a leader in sustainable helium and beverage grade CO2 production, capitalizing on its exclusive resource rights; with a clear line of sight to becoming the second largest as we scale production in the coming quarters; seek to rapidly scale our helium production, begin beverage grade CO2 production, and set new sustainability benchmarks for the industry; believe that we can scale Helium production revenue from hundreds of thousands to millions of dollars per month by year-end; paving the way for a prosperous future as a leading supplier in the North American market as well as the potential for Carbon Storage; will position the combined entity as a dominant player in the North American market for helium and beverage grade CO2; etc.
Such forward-looking information or statements are based on several risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding acquisitions, production of helium and CO2, future development and growth, plans for and completion of projects by third-party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, without limitation, operational risks in the completion of anticipated projects, delays or changes in plans with respect to the development of anticipated projects risks affecting the ability to develop projects, risks in legislative changes in the applicable jurisdictions, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, risks in decrease of price of helium and CO2. No assurances can be given that the efforts by Proton Green will be successful.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements, except as required by law.
Investors are cautioned that notwithstanding the expectations described herein, there can be no assurance that the plans described herein will be completed as proposed. Trading in the securities of VVC should be considered highly speculative. All forward-looking statements contained in this press release are expressly qualified in their entirety by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
