VVC Announces AGM Date and Private Placement Financing
TORONTO, June 03, 2019 (GLOBE NEWSWIRE) -- VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) announces the following:
Annual General Meeting of Shareholders (“AGM”)
The Company's AGM will be held on Monday August 19, 2019 at 10:00 am (Montreal Time) at the Marriott Fairfield Inn & Suites – Montréal Airport, Toscana Room II, 700 Michel Jasmin Avenue, Dorval, Québec, H9P 1C5.
The Record date for the AGM is July 15, 2019; the expected mailing date is on or before July 23, 2019; and the Proxy Voting Cut-Off Time & Date is 10:00 am on Friday August 16, 2019. Both NOBO and OBO Beneficial Shareholders in Canada should contact their broker to ensure that their address is correct and that they are coded to receive Proxy Materials from the Company.
Following the mailing, copies of the Proxy Material and other relevant documentation will be filed on SEDAR and available from the Company’s website (www.vvcexpl.com/shareholder-meeting).
At the AGM, management will present an update on the Samalayuca Project and other Company activities, and will be available to answer questions from shareholders, subject to Securities Laws regarding “Selective Disclosure”.
Shareholders wishing to stay overnight at the Marriott Fairfield Inn & Suites – Montréal Airport, please make a reservation (Tel: 877-731-2424) and identify yourself as part of the VVC group to receive the reduced rate offered on a first-come-first-serve basis.
Year-End Financial Statements
The Company's audited Financial Statements and the MD&A for the Year Ended January 31, 2019 were filed on SEDAR on May 31, 2019 are available for download at www.sedar.com or from the Company's website.
Private Placement Financing
The Company is raising up to CA$2 million (approx. US$1.5) in a non-brokered private placement of units of the Company (“Units”) at a price of $0.05 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant (a “Warrant”) of the Company. Each full Warrant entitles 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. The proceeds of the offering will be used for exploration and development on the Samalayuca property, including diamond drilling, land use permits and associated costs, metallurgical bench testing of the copper mineralization, and proposed pilot mining investigation and evaluation. In addition, the money will used for option payments in Mexico, current accounts payable, general administrative expenses, and working capital.
The Company is not anticipating paying a commission at this time, however should a commission be paid, it will not exceed the allowable limits imposed by the TSXV. The financing is expected to close by the end of June or in early July.
The offering is subject to all necessary regulatory requirements including the approval of the TSX Venture Exchange. All securities 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.
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, mainly the Samalayuca copper property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold and silver prospects in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario. Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
| For further information, please contact: |
| Patrick Fernet E-mail: pfernet@vvcexploration.com Phone: (514) 631-2727 |
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.
