VVC Exploration – Closing of Private Placement Financing

VVC closed, on October 15, subscriptions for a non-brokered Private Placement financing, previously announced on July 30 and September 16, 2019.  VVC raised approximately CA$2 (US$1.5) million and will issue to the placees an aggregate of 39,652,250 Units at a price of CA$0.05 per Unit.  Each Unit consists of one common share and one-half of one common share purchase warrant entitling 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.  In addition, the Company will also be issuing 2,485,400 units to Novis Partners LLC, as a Finder’s Fee.