TORONTO, Dec. 21, 2017 — In a release issued under the same headline earlier today by VVC Exploration Corporation (TSX-V:VVC), please note that in the “Equity Financing” paragraph of the release, both of the amounts of Shares and both of the amounts of Warrants have been revised. The corrected release follows:VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) announces the closing of 2 non-brokered private placement financings on December 20, 2017.
Equity FinancingThe Company held a second and final closing of an equity private placement financing (the “Equity Financing”) for which the first closing occurred on October 31, 2017. A total of 6,372,740 additional Shares and 3,186,370 additional Warrants are being issued pursuant to the second closing of the Equity Financing for CA$ 318,637. An aggregate of 31,522,590 Shares and 15,761,295 Warrants were issued pursuant to this Private Placement for the aggregate value of CA$ 1,576,129.50. No insiders participated in the 2nd Closing.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 until November 30, 2020.Debenture Financing
The Company also closed a non-brokered convertible 3-year Debenture private placement financing of US150,000 (the “Debenture Financing”) whereby the Debenture is convertible into common shares at a conversion rate US$0.04 per share in the first year and at US$0.08 per share in years 2 and 3. An aggregate of 750,000 detachable warrants are being issued with the Debenture. Each Warrant entitles the holder to purchase one additional share of the Company at an exercise price of US$0.11 per share, until December 20, 2020. The Company received the TSX Venture conditional acceptance for the Debenture Financing. Other
The Company received the conditional acceptance of TSX Venture Exchange for both financings. All securities issued pursuant to these financings are subject to the applicable statutory, exchange and regulatory hold period of four months, expiring on April 21, 2018. Prior to the closings, 237,745,821 shares were issued and outstanding. For more information on the Company’s Share capital, please refer to the Quarterly Financial Statements filed on SEDAR (www.sedar.com).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 DirectorsMichel J. Lafrance, Secretary-TreasurerFor further information, please contact:
Patrick Fernet – (514) 631-2727
E-mail: [email protected]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.
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