• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Company Market
    Company News
    Company Stocks
    • Company Market
    • Company News
    • Company Stocks

    VVC Exploration Receives Final Documentation for $2 Million Loan

    Investing News Network
    Aug. 11, 2014 09:06AM PST
    Company News
    TSXV:VVC

    VVC Exploration Corporation (TSXV:VVC) announced that its wholly owned subsidiary, Camex Mining Development Group Inc., received the final documentation for a loan of up to US$4 million pursuant to a signed Term Sheet with Aeris Trading Corp.

    VVC Exploration Corporation (TSXV:VVC) announced that its wholly owned subsidiary, Camex Mining Development Group Inc., received the final documentation for a loan of up to US$4 million pursuant to a signed Term Sheet with Aeris Trading Corp.

    As quoted in the press release:

    The loan is for US$2 million initially but can be extended to US$4 million, once mining permits for the Samalayuca Copper Project are received. The first $250,000 will be provided to Camex at the earlier of one month following the final signoff of all documents after receipt of the TSXV acceptance, or September 30, 2014. Subsequent draw-downs will be limited to $500,000 per month thereafter up to US$2 million. Interest on the loan is set at 12% per annum, with the first year’s interest prepaid. The loan is for a maximum of 5 years and requires that one half of the revenue to be receives from the Samalayuca Copper pilot mining project be used for loan repayment until the loan is paid in full. In addition, for each $500,000 drawn-down, VVC has agreed to provide to the Lender with 1,000,000 shares of common shares of VVC and 2.000,000 share purchase warrants expiring in 5 years, aggregating 8,000,000 shares and 16,000,000 warrants if the full $4 million is received.

    VVC Exploration President, Jim Culver, said:

    This loan will provide the Company with much needed funding to advance the Samalayuca Copper project to pilot production. We are pleased with being provided with the opportunity to work with Aeris and look forward to a successful startup of the Samalayuca Copper project.

    Click here to read the VVC Exploration (TSXV:VVC) press release

    VVC:CA
    mining developmenttsxv:vvcvvc exploration
    The Conversation (0)

    Go Deeper

    AI Powered
    VVC Warrant Issuance

    VVC Warrant Issuance

    VVC - Purchase of Ithaca 1-17 Well and 5 Mile Pipeline

    VVC - Purchase of Ithaca 1-17 Well and 5 Mile Pipeline

    Latest News

    VVC Resources
    Sign up to get your FREE

    VVC Resources Investor Kit

    and hear about exciting investment opportunities.
    • Corporate info
    • Insights
    • Growth strategies
    • Upcoming projects

    GET YOUR FREE INVESTOR KIT

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
      • Electric Vehicles
    • Agriculture
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Energy
      • Uranium
      • Oil and Gas
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Robotics
      • Crypto
      • Cleantech
    Life Science
      • Biotech
      • Cannabis
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES