VVC Exploration Announces Appointment of Frontier as Investor Relations Firm and Closing of $857,475 Private Placement
TORONTO, ONTARIO--(Marketwired - Mar 5, 2014) - VVC Exploration Corp. ("VVC" or the "Company") (TSX VENTURE:VVC) announces the following developments:
Investor Relations
VVC has retained FronTier Consulting Ltd., part of the FronTier Merchant Capital Group, ("FronTier"), a leading strategic communications advisory firm, to be its investor relations advisors. VVC's CEO, James a Culver, commented, "We look forward to working with the FronTier team in supporting and strengthening VVC's financial community communications activities. FronTier's track record of assisting successful financial communications programs directly supports the overall execution and evolution of our strategy as VVC forges towards production at its Samaluyuca Project."
Ari Todd, CEO of FronTier, stated, "We are delighted to have been chosen as investor relations counsel by VVC Exploration Corp. at this exciting juncture in its corporate history."
FronTier is an experienced and reputable Investor Relations group with a home office in Toronto, Canada. FronTier will assist the Company by increasing market awareness for VVC Exploration Corp. utilizing a number of financial market communications initiatives. The core of which will be facilitating in-person introductions for with institutional and retail brokers and investors in a number of cities across Canada, the US, Europe and Australasia. Visit www.frontiermcg.com for more information on FronTier.
Frontier will be providing the investor relations services starting immediately and services continue for one year or until either party notifies the other of termination of the agreement with 60 days notice. Frontier will be paid $5,000 per month plus out-of-pocket expenses as required. Additional services will be billed at Frontier's going rate. At the time of signing the agreement, Frontier was completely at arm's length to the Company. FronTier is investing $110,000 in shares of VVC and as such is participating in the Company's Private Placement. The appointment of Frontier is subject to filing the appropriate documents with the TSX Venture Exchange ("TSXV") and the formal acceptance of the filings by the TSXV.
Financing
The Company also announces that it has that it has successfully completed a previously announced non-brokered private placement aggregating $857,475 and representing 17,149,500 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 for 2 years and thereafter at $0.18 per share until March 4th, 2019. The securities being issued pursuant to this private placement will be subject to a hold period which expires on July 5th, 2014.
The Company is paying $22,091 of finders' fees of which $8,616 was paid in cash and $13,475 was paid by the issuance of 269,500 shares of the Company. There are now 169,466,581 shares issued and outstanding.
The Company obtained conditional approval of the TSXV and will be forthwith submitting all required documents to the TSXV to secure their final acceptance. The net proceeds of this financing will be used to pay accounts payables, general corporate expenses, operating expenses in Mexico and maintenance fees on the Company's properties in Mexico.
The Board and Management wish to thank all our investors for their continued support of the Company. As additional material news arises, VVC will keep its shareholders informed.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, which includes a near production copper prospect in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States, Mexico. The Company also has a grassroots gold/VMS prospect in the Timmins area of northern Ontario. VVC is aggressively seeking to convert its near production copper project, Samalayuca, to pilot scale production, then full production.
On behalf of the Board of Directors |
Michel J. Lafrance, Secretary-Treasurer |
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.
Contact
Serge Cadorette
E-mail: scadorette@vvcexploration.com
Phone: (514) 631-2727