TORONTO, ONTARIO–(Marketwired – Oct. 31, 2017) – VVC Exploration Corporation (“VVC” or the “Company“) (TSX VENTURE:VVC) is pleased to provide an update on its equity and debenture financings previously announced on September 26, 2017 and to announce a conversion of indebtedness (“Debt Conversion”).
Equity Financings and Debt Conversion:
A total of 33,073,600 Shares and 15,768,050 Warrants are being issued for aggregate value of CA$ 1,653,680 pursuant to equity financing and Debt Conversion.
Today the Company completed the 1st Closing of its non-brokered equity private placement offering (the “Offering”) for units of the Company (“Units”) at a price of CA$ 0.05 per Unit, whereby each Unit consists of one common share (a “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 Offering which was increased from a maximum of CA$1 million to CA$2 million will remain open for an additional month and a 2nd Closing will take place on or before November 30, 2017.