- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Silver47 Exploration
Syntheia
Black Swan Graphene
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
VVC Exploration Corporation (“VVC” or the “Company”) (TSXV:VVC) announces the following
VVC Exploration Corporation (“VVC” or the “Company”) (TSXV:VVC) announces the following:
Private Placement Financing
VVC closed, on October 15, subscriptions for a non-brokered Private Placement financing, previously announced on July 30 and September 16, 2019. VVC raised approximately CA$2 (US$1.5) million and will issue to the placees an aggregate of 39,652,250 Units at a price of CA$0.05 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant entitling 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. In addition, the Company will also be issuing 2,485,400 units to Novis Partners LLC, as a Finder’s Fee.
The proceeds of the Financing were for exploration and development on the Kaity Property in Mexico, including diamond drilling, land use permits and associated costs, metallurgical bench testing of the copper mineralization, and investigation, evaluation and implementation of the Gloria Pilot Mining Project. In addition, the proceeds are for option payments in Mexico, current accounts payable, general administrative expenses, and working capital.
The TSX Venture Exchange (“TSXV”) has conditional accepted this Private Placement, which Closing will occur following receipt of their final approval. All securities issued pursuant to the Financing will be subject to the applicable statutory, exchange and regulatory hold period of four months and any other required resale restrictions.
Debt Conversion
VVC intends to convert some $175,000 of its indebtedness into Units of the Company along the same terms as the Private Placement. One Insider of the Company will be participating in the Debt Conversion but will not be entitled to the warrants. Subject to obtaining the approval of the TSXV and the various signed documentation from the participants, 3.5 million units will be issued. These securities will also 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: https://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact: | ||||
Patrick Fernet – (514) 631-2727 E-mail: pfernet@vvcexploration.com | or | Eugene Braigen – (646) 245-3409 E-mail: eugene@vvcexpl.com | ||
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.
Click here to connect with VVC Exploration Corporation (TSXV:VVC) for an Investor Presentation.
Latest News
VVC Resources Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.