VVC Resources Received US$5 Million
04 Agosto 2023 - 7:00AM
VVC Exploration Corporation, dba VVC Resources, ("VVC" or the
"Company"), (TSX-V:VVC and OTCQB:VVCVF) received US$5,000,000 from
the sale of a small portion of its ownership in Proton Green, LLC
("Proton Green”). VVC sold approximately one-seventh of its
ownership in Proton Green and remains a significant investor in
Proton Green, holding over 12%.
The proceeds from the private transaction
enhance VVC’s overall financial position. Management intends to
accelerate its U.S. helium and natural gas programs, as well as to
continue development of its copper property in Mexico.
Specifically, in the U.S., VVC will complete the
eight Syracuse wells that are adjacent to its completed internal
pipeline. VVC will also test two promising helium and natural gas
system wells in northwest Kansas.
"We are delighted with the outcome," said
Terrence Martell, Chairman of VVC. "The additional capital
reinforces our financial stability and provides us with the
resources required to continue development of our focus projects in
helium."
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.
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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: |
Patrick Fernet - (514) 631-2727 |
or |
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:
intends to accelerate its U.S. helium and natural gas programs, as
well as to continue development of its copper property in Mexico;
will complete the eight Syracuse wells that are adjacent to its
completed internal pipeline; will also test two promising helium
and natural gas system wells; 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, future development and growth, plans for and completion of
projects by Company’s 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
Company’s anticipated projects, delays or changes in plans with
respect to the development of Company’s anticipated projects by
Company’s third-party relationships, 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 copper. No assurances can be given
that the efforts by Company 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.sedarplus.ca).
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