indebtedness

VVC Announces Debt Conversion of Outstanding Debentures

VVC Exploration Corporation (" VVC " or the "Company") (TSX-V:VVC) announces the following:

Debt Conversion

The Company wishes to settle an aggregate of up to $650,000 of indebtedness (the "Debt Conversion") by the issuance of up to 9,300,000 Shares and 9,300,000 Warrants (collectively the "Units") at $0.07 per Unit. The indebtedness is primarily a result of debentures maturing between Dec. 20, 2020 and Nov. 20, 2021. One of the Debenture holders is an insider of the Company. The transaction is subject to receiving signed subscription agreements from the debt holders and also subject to the approval of the TSX Venture Exchange.

The Company will offer the Debenture Holders the opportunity to convert the principle amount and accrued interest at a price of CA$0.07 per Unit. Each Unit would comprise one common share ("Share") and one common share purchase warrant ("Warrant") entitling the holder to purchase one additional Share of the Company for a period of three years from Closing, at an exercise price of CA$0.10 per share.

The Debt Conversion would close following receipt of the final acceptance of the TSXV. All securities to be 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. The securities to be issued have not and will not be registered under the US Securities Act of 1933, as amended, or any state securities laws.

Risk Factors

The Company's business involves a variety of operational, financial and regulatory risks that are typical in the natural resource industry. These risk factors are more fully described in the "Financial Instruments and Risk Management" section and the "Business Risks" section of its Management's Discussion & Analysis (MD&A) which are prepared quarterly in conjunction with its Financial Statements and filed on SEDAR (www.sedar.com).

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 or Trevor Burbank - (214) 641-1041
E-mail: pfernet@vvcexploration.com E-mail: trevor@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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Copper Intelligence (OTC:CUAI)

Copper Intelligence and CoTec Finalise Joint Venture Shareholder Agreement to Target Processing Historical Copper Tailings Opportunities in the Democratic Republic of Congo

Copper Intelligence (OTCID: CUAI) is pleased to announce that it has finalized the terms of a definitive joint venture agreement with CoTec Holdings Corp. (TSXV: CTH) (OTCQB: CTHCF) and two third-party investment vehicles associated with the Company's CEO, Julian Treger, and Chairman, Lucio... Keep Reading...
High-Grade PXRF Results Upgrade Silverjack & Headway Targets

High-Grade PXRF Results Upgrade Silverjack & Headway Targets

Raptor Metals (RAP:AU) has announced High-Grade PXRF Results Upgrade Silverjack & Headway TargetsDownload the PDF here. Keep Reading...
Rows of fine copper bars with text that reads "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Brutus Mining Jumps 89 Percent on CSE Listing

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.On September 18, the Ontario government announced it would commit to a C$11 million non-binding term... Keep Reading...
Various multicolored electrical cables with exposed copper wires spread out on a white surface.

Michael Burry Ignores AI Buzz, Bets on Copper

"Big Short” investor Michael Burry is avoiding the technology sector’s AI trade, instead deploying capital into other ventures.In a September 22 Substack update, Burry disclosed new positions in Brazilian copper miner Ero Copper (TSX:ERO), building-products firm QXO (NYSE:QXO), Australian... Keep Reading...
Orange copper pipes with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Arrow Minerals Jumps 77 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on copper, lithium, gold and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...

Interactive Chart

Latest Press Releases

Related News