VVC Exploration Closes $411,365 Private Placement

 VVC Exploration (TSXV:VVC) announced it closed a $411,365 private placement after selling 8,227,300 units of the company for $0.05 per unit. The company expects to complete a further private placement before the end of 2014. The funding will go towards funding the start up of a pilot mine on its Samalayuca copper project.

According to the press release:

it has that it has successfully completed a previously announced non-brokered private placement aggregating $411,365 and representing 8,227,300 units of the Company (“Units”) at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant (a “Warrant”) of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share for 2 years and thereafter at $0.18 per share until October 22nd, 2019. The securities being issued pursuant to this private placement will be subject to a hold period which expires on February 23rd, 2015.

The Company is paying $300 of finders’ fees in cash. There are now 181,786,131 shares issued and outstanding.

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