Key Developments: VVC Exploration Corp (VVC.V)
0.09CAD
16 May 2013
$-0.02 (-18.18%)
$0.11
$0.10
$0.10
$0.09
114,500
22,424
$0.14
$0.05
Latest Key Developments (Source: Significant Developments)
VVC Exploration Corp Starts Drilling On Cumeral Gold Prospect In Mexico
VVC Exploration Corp announced the commencement of 1,000 meters of reverse circulation drilling on the Cumeral Property (Cumeral or the Property) located 70 km to the south of the US border, in Sonora State, Mexico. Drilling One mobilized a drill rig onto Cumeral from its regional office in Cuauhtemoc, Chihuahua, Mexico, following the issuance by the Mexican Department of Natural Resources and Environment of the required drilling permit. This drilling campaign is the first phase of drilling recommendations made in a recent internal report by Michel Boily, PhD, P. Geo., an independent Qualified Person. The information from this drilling, along with the detailed geological mapping and sampling on Cumeral which was previously completed previously and reported on June 12, 2012, will allow VVC to efficiently plan the next phase of exploration on Cumeral as the Company seeks to confirm potentially exploitable gold deposits on the Property. Full Article
VVC Exploration Corp Signs Letter Of Intent For Acquisition Of Camex Mining Development
VVC Exploration Corp announced that it has entered into a non-binding letter of intent dated April 12, 2013 with Camex Mining Development Group Inc. Pursuant to the Letter of Intent, the Company intends to acquire all of the issued and outstanding shares of Camex, in exchange for the issuance of 59,900,000 common shares of VVC at closing, subject to adjustments, if any, as mutually agreed upon based on due diligence. In the Letter of Intent, the parties have agreed to, among other things, an exclusivity period within which to negotiate and conclude a definitive share purchase agreement, in effect until the expiration or termination of the Letter of Intent in accordance with terms. Full Article
VVC Exploration Corp Closes $958,500 Financing
VVC Exploration Corp announced that following receipt of the final acceptance by the TSX Venture Exchange, the Company has closed its previously announced non-brokered private placement aggregating CAD958,500 representing 19,170,000 units of the Company (Units) at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant (a Warrant) of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share until January 24, 2014 and thereafter at $0.18 per share until January 24, 2015. The total proceeds of $958,500 from this offering will be used for exploration on the Company's Cumeral Property in Mexico, property option payments, current accounts payable, current general corporate expenses, and for working capital, after covering the cost of the issue. Full Article
VVC Exploration Corp Closes Subscriptions On $958,500 Financing
VVC Exploration Corp announced that it has closed subscriptions for a previously announced non-brokered private placement. Subscriptions received aggregate $958,500 and represent 19,170,000 units of the Company (Units) at a price of $0.05 per Unit, exceeding the target of $850,000. Each Unit consists of one common share and one common share purchase warrant (a Warrant) of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share for one year and thereafter at $0.18 per share until two years after closing. The total proceeds of $958,500 from this offering will be used for exploration on the Company's Cumeral Property in Mexico, property option payments, current accounts payable, current general corporate expenses, and for working capital, after covering the cost of the issue. Full Article
VVC Exploration Corp Announces Strategic Review Process
VVC Exploration Corp announced that Board of Directors has initiated a strategic review process to consider a range of strategic alternatives that have presented themselves to the Company, with a view to enhancing shareholder value. Strategic alternatives may include, but are not limited to, the acquisition of certain mining assets in Mexico, a merger or other business combination transaction involving a third party, a joint venture, as well as continued execution of the Company's existing business plan, or any combination thereof. Full Article
VVC Exploration Corp Extends Private Placement Closing
VVC Exploration Corp announced that it has requested and obtained a 30-day extension for the final closing of a previously announced non-brokered private placement of 30,000,000 units of the Company (Units) at a price of $0.05 per Unit for an aggregate of $1,500,000. Each Unit consists of one common share and one common share purchase warrant (a Warrant) of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share until August 31, 2013 and thereafter at $0.18 per share until August 31, 2014. The Private Placement was to close on August 31, 2012. A first tranche of $147,506 comprising of 2,950,120 units closed in July. The Company will endeavour to close the remaining approximately $1.35 million before September 27, 2012. Full Article
VVC Exploration Corporation Announces Private Placement
VVC Exploration Corporation announced that it intends to raise up to $1,500,000 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 common share purchase warrant (a Warrant) of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share until August 31, 2013 and thereafter at $0.18 per share until August 31, 2014. The proceeds from the offering will be used for exploration on the Company's Cumeral Property in Mexico, current accounts payable, current general administrative expenses, the cost of issue and for working capital. The private placement was conditionally accepted by the TSX Venture Exchange, subject to closing and filing all documentation before August 31, 2012. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following each closing. first tranche of $147,506 comprising of 2,950.120 units was completed with the remaining approximately $1.35 million to be closed in several tranches before August 31, 2012. Finders' fees totaling $2,880 are payable pursuant this first tranche. Full Article
VVC Exploration Corporation Announces Appointment Of CEO And President
VVC Exploration Corporation announced that the Board of Directors of VVC has appointed Dr. James Culver, Ph.D. as CEO and President of the Company. For more information about Dr. Culver, please refer to the News Release of May 9, 2011. Consequently, Mr. Patrick Fernet has stepped down as Acting CEO and will remain as Vice-President, Corporate and Legal Affairs of the Company and also Chairman of the Board of Directors of VVC. Full Article
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