VVC Exploration Corporation, dba VVC Resources, ("VVC" or the
"Company"), (TSX-V:VVC and OTCQB:VVCVF) a major investor in Proton
Green, LLC ("Proton Green"), is thrilled to announce that Proton
Green has signed a definitive share exchange agreement with Cyber
App Solutions (Ticker: CYRB). The agreement signifies a significant
milestone for Proton Green, establishing it as a leading publicly
traded supplier of helium and beverage grade CO2 in North America.
Under the terms of the all-stock transaction,
Cyber App Solutions Corp. will acquire Proton Green, with Proton
Green shareholders set to own approximately 94.4% of the combined
entity. The current Proton Green management team and Board of
Directors will lead the new organization. This strategic move paves
the way for a name change to Proton Green, Inc., and a planned
ticker change to "PGRN," a symbol that has already been reserved
with Nasdaq. Subsequently, Proton Green anticipates a Nasdaq
uplisting in the second half of 2023, further solidifying its
position in the public markets.
The combined company is poised to become a
leader in sustainable helium and beverage grade CO2 production,
capitalizing on its exclusive resource rights to the vast
170,500-acre St. Johns field in Arizona. Recognized as one of the
largest helium, CO2, and carbon storage reservoirs in North
America, the St. Johns field contains an estimated 33 billion cubic
feet of helium and 9 trillion cubic feet of CO2 in accessible
reservoirs. A notable advantage is that both the helium and CO2
extracted from the St. Johns field are entirely
hydrocarbon-free.
Steve Looper, Chief Executive Officer of Proton
Green, expressed his enthusiasm about Proton Green's market entry:
“We are pleased to enter the public markets through this share
exchange agreement, providing the capital markets community with a
compelling Helium and CO2 pure-play opportunity. As it stands today
with Phase I of Helium production underway, we are now a top 10
Helium producer in North America – with a clear line of sight to
becoming the second largest as we scale production in the coming
quarters – leveraging fixed-price offtake agreements with two
multi-national industrial gas distribution and marketing
companies.
“Looking ahead, our vision for Proton Green is
clear. We will seek to rapidly scale our helium production, begin
beverage grade CO2 production, and set new sustainability
benchmarks for the industry with our hydrocarbon-free gases. I
firmly believe that we can scale Helium production revenue from
hundreds of thousands to millions of dollars per month by year-end.
We're set to transform the industry while concurrently driving
sustainable value for both our shareholders and their communities,"
concluded Looper.
As an investor in Proton Green, VVC Resources
stands firmly behind the company's vision and recognizes the
strategic significance of this share exchange agreement. The move
positions Proton Green to capitalize on the growing demand for
sustainable helium and beverage grade CO2, paving the way for a
prosperous future as a leading supplier in the North American
market as well as the potential for Carbon Storage.
"We are thrilled to witness the union of Proton
Green and Cyber App Solutions Corp, which marks a defining moment
in the sustainable energy sector. As a committed investor in Proton
Green, we are confident that this strategic amalgamation will
position the combined entity as a dominant player in the North
American market for helium and beverage grade CO2. This milestone
not only represents a tremendous growth opportunity for the company
but also reinforces our dedication to fostering a greener and more
sustainable future. We congratulate Steve Looper and his team on
this significant milestone,” said VVC CEO, Jim Culver.
About VVC Resources VVC engages
in the exploration, development, and management of natural
resources - specializing in scarce and increasingly valuable
materials needed to meet the growing, high-tech demands of
industries such as manufacturing, technology, medicine, space
travel, and the expanding green economy. Our portfolio includes a
diverse set of multi-asset, high-growth projects, comprising:
Helium & industrial gas production in western U.S.; Copper
& associated metals operations in northern Mexico; and
Strategic investments in carbon sequestration and other green
energy technologies. VVC is a Canada-based, publicly-traded company
on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To
learn more, visit our website at: www.vvcresources.com.
About Proton Green, LLCProton
Green LLC is a leading operator of one of the largest Helium and
beverage grade CO2 hubs in North America. The Company maintains
exclusive production rights to St. Johns Field, a 170,500 acre
property in Arizona with a 33 billion cubic feet helium reservoir,
9 trillion cubic feet CO2 reservoir and a basin with the potential
to store 1 billion metric tons of CO2. The Company is currently a
top 10 producer of Helium in North America – a high-demand gas in
both consumer and critical technology applications – leveraging
strategic offtake partners with fixed-price agreements to drive a
predictable revenue stream. Notably, both Helium and CO2 produced
at St. John’s Field contain no hydrocarbon component. To learn
more, please visit our website.
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On behalf of the
Board of Directors |
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Michel J. Lafrance,
Secretary-Treasurer |
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For further information, please
contact: |
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Patrick Fernet - (514) 631-2727 |
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Trevor Burbank - (214)
641-1041 |
E-mail: pfernet@vvcexploration.com |
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E-mail: trevor@vvcexpl.com |
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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 4E7 – Tel:
416-619-5304
FORWARD-LOOKING STATEMENTS:This
news release contains "forward-looking information" (within the
meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee", “strategy”, "success"
or similar words suggesting future outcomes or statements regarding
an outlook. Such statements include, among others: leading publicly
traded of helium and beverage grade CO2 supplier; become a leader
in sustainable helium and beverage grade CO2 production,
capitalizing on its exclusive resource rights; with a clear line of
sight to becoming the second largest as we scale production in the
coming quarters; seek to rapidly scale our helium production, begin
beverage grade CO2 production, and set new sustainability
benchmarks for the industry; believe that we can scale Helium
production revenue from hundreds of thousands to millions of
dollars per month by year-end; paving the way for a prosperous
future as a leading supplier in the North American market as well
as the potential for Carbon Storage; will position the combined
entity as a dominant player in the North American market for helium
and beverage grade CO2; etc.
Such forward-looking information or statements
are based on several risks, uncertainties and assumptions which may
cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect.
Assumptions have been made regarding, among other things,
management's expectations regarding acquisitions, production of
helium and CO2, future development and growth, plans for and
completion of projects by third-party relationships, availability
of capital, and the necessity to incur capital and other
expenditures. Actual results could differ materially due to a
number of factors, without limitation, operational risks in the
completion of anticipated projects, delays or changes in plans with
respect to the development of anticipated projects risks affecting
the ability to develop projects, risks in legislative changes in
the applicable jurisdictions, risks inherent in operating in
foreign jurisdictions, the ability to attract key personnel, risks
in decrease of price of helium and CO2. No assurances can be given
that the efforts by Proton Green will be successful.
Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements, except
as required by law.
Investors are cautioned that notwithstanding the
expectations described herein, there can be no assurance that the
plans described herein will be completed as proposed. Trading in
the securities of VVC should be considered highly
speculative. All forward-looking statements contained in this
press release are expressly qualified in their entirety by these
cautionary statements and by those made in our filings with SEDAR
in Canada (available at www.sedar.com).
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