VVC Announces Private Placement Financing
July 30 2019 - 8:00AM
VVC Exploration Corporation (“
VVC” or the
“
Company”) (TSX-V:VVC) announces the Company is
raising up to CA$2.5 million (approx. US$2.0) in a non-brokered
private placement of units of the Company (“Units”) at a price of
$0.05 per Unit. 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
proceeds of the offering will be used to pay for exploration and
development on the Samalayuca property, land use permits and
associated costs, metallurgical bench testing of the copper
mineralization, and proposed pilot mining investigation and
evaluation process. In addition, the money will used
for option payments in Mexico, current accounts payable, general
administrative expenses, and working capital.
The Company is not anticipating paying a
commission at this time, however should a commission be paid, it
will not exceed the allowable limits imposed by the TSXV. The
financing is expected to close within 30 days.
The offering is subject to all necessary
regulatory requirements including the approval of the TSX Venture
Exchange. All securities issued pursuant to the offering will
be subject to the applicable statutory, exchange and regulatory
hold period of four months and any other required resale
restrictions.
About VVC Exploration
Corporation
VVC is a Canadian exploration and mining company
focused on the exploration and development of copper and gold
deposits in Northern Mexico, specifically the Kaity Copper Project
located in in Chihuahua State. VVC has other projects in
Mexico and Canada, including gold and silver prospects, Cumeral and
La Tuna, in Sonora and Sinaloa States, Mexico and 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-Treasurer
For further information, please
contact: |
|
Patrick
Fernet |
|
E-mail: pfernet@vvcexploration.com |
|
Phone: (514) 631-2727 |
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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