TSXV:VVC

VVC Exploration - Acquisition of Additional Shares of Samalayuca CobreĀ and Extension of Previously Issued Warrants

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

Acquisition of R emaining S hares of Samalayuca Cobre

Through its wholly owned subsidiary, Camex Mining Development Group Inc., VVC currently owns 45,000 shares of Samalayuca Cobre S.A. de C.V. ("SCSA") representing 33.75% of the outstanding shares of SCSA (the "SCSA shares"). Pursuant to Option Agreements entered into in September 2015 with Ressources Orford Inc. ("Orford") and Inversiones Agrofinancieras de Panama, S. A. ("IAP"), the Company had options to purchase an additional 45,000 SCSA shares. The Company wished to acquire all the SCSA shares and as such entered into discussions with all the SCSA shareholders to finalize agreements to acquire the remaining 88,333 SCSA shares.

For this purpose, the Company entered into three (3) agreements, subject to approval of the TSXV Venture Exchange ("TSXV"), to acquire 88,333 SCSA shares for the aggregate consideration of $750,000, and the issuance of 27,200,000 shares of VVC ("Shares"), and 32,500,000 of Warrants of VVC ("Warrants"), as follows:

(a) With Orford to acquire 37,500 SCSA shares in consideration for cash payments of US$550,000 and the issuance of 10,000,000 Shares and 20,000,000 Warrants. The Shares and Warrants will be issued on Closing, a first payment of $150,000 will be made within 30 days following receipt the Explosive Permit in Mexico, and the remaining cash payments are to be made over a period of 19 months following the receipt of sales proceeds from the first sales of copper.

(b) With IAP to acquire 17,500 SCSA shares in consideration for the issuance of 14,200,000 Shares and 12,500,000 Warrants to be issued on Closing.

(c) With Micose S.A. de C.V. for the acquisition of 33,333 SCSA shares in consideration for cash payments of US$200,000, to be paid, half on Closing with the balance paid over a period 120 days following receipt of the Explosive Permit in Mexico, and for the issuance of 3,000,000 Shares be issued on Closing.

Each Warrant will entitle the holder to purchase an additional Share at a price of $0.06 per Share for a period of 5 years following Closing. Having received the Conditional Approval of the TSXV, the Company will proceed with the closing (the "Closing") of these three (3) transactions simultaneously at the earliest convenient time. Once completed, VVC will control 100% of SCSA. These agreements were first disclosed in news releases on September 1 and 28, 2020 .

SCSA is the owner of the Kaity Property where the Gloria Cooper Project is located. A National Instrument (NI) 43-101 Technical Report on the Kaity Property by Jacques Marchand P.Eng. Geology, dated April 21, 2019, was filed on SEDAR on May 7, 2019.

Warrant Extensions

Following an application to the TSXV announced in a news release issued on October 26, 2020 , the Company amended its application to only extend the warrants issued pursuant to equity private placements, and exclude warrants issued pursuant to debt conversions and debenture issuances. The TSXV approved the amended warrant extension and the new expiry dates are as follows:

Series No. of Warrants Exercise Price Original Expiry Date Amended Expiry Date
AA 15,761,295 $0.06 30-Nov 2020 30-Nov 2022
AC 8,698,850 $0.06 18-Jan 2021 18-Jan 2023
TOTAL 24,460,145

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 Gloria Copper Project located 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
pfernet@vvcexploration.com 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.

2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E 7 – Tel: 416- 61 9-5304

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

VVC Resources

VVC Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
VVC Resources (TSXV:VVC)

VVC Resources

Engaging in the exploration, development, and management of natural resources

Engaging in the exploration, development, and management of natural resources 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: Vangaurd Mining Gains 141 Percent

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 and US news impacting the resource sector.Statistics Canada released November’s gross domestic product (GDP) data on Friday (January... Keep Reading...
Quarterly Activities and Cashflow Report

Quarterly Activities and Cashflow Report

Redstone Resources (RDS:AU) has announced Quarterly Activities and Cashflow ReportDownload the PDF here. Keep Reading...
Map of Southeast Asia, including India, China, Indonesia, and neighboring countries.

Freeport-McMoRan Plans 2026 Grasberg Restart After Deadly Mud Rush

Freeport-McMoRan (NYSE:FCX) is preparing to bring one of the world’s most important copper assets back online, laying out plans for a phased restart of the Grasberg mine in Indonesia following a deadly mud rush that halted operations late last year.The Arizona-based miner said remediation and... Keep Reading...
Red Metal Resources (CSE:RMES)

Red Metal Resources Closes First Tranche of Financing

RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") announces that it has closed the first tranche of its previously announced non-brokered private placement financing (the "Offering") (see news releases dated January 7, 2026, and January 19, 2026)... Keep Reading...
Questcorp Mining (CSE:QQQ)

Questcorp Mining and Riverside Resources Chip Channel Sample 30 Meters @ 20 g/t Gold and 226 g/t Silver at the Mexican Union Project

Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") along with its partner Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) ("Riverside"), is pleased to report a high grade interval of 20.2 g/t gold and 226 g/t silver with 2.7% zinc over a 30... Keep Reading...
VVC Resources

VVC Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News