TORONTO, ONTARIO–(Marketwired – Nov. 14, 2017) – VVC Exploration Corporation (“VVC” or the “Company“) (TSX VENTURE:VVC) is pleased to provide an update on its financings previously announced on September 26 and October 31, 2017.
A total of 28,144,850 Shares and 13,303,675 Warrants were issued last week for aggregate value of CA$1,407,242.50 pursuant to a 1st Closing of a non-brokered equity private placement financing (the “PP Financing”) and a debt conversion of certain indebtedness owed by the Company (the “Debt Conversion”).
The PP Financing comprises 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 of up to CA$2 million will remain open until November 30, 2017, following which a 2nd Closing will take place.