VVC Exploration Closes Subscriptions on 958,500 Financing
TORONTO, ONTARIO, Jan 24, 2013 (Menafn - MARKETWIRE via COMTEX) --VVC EXPLORATION CORPORATION (frankfurt:V7S)("VVC" or the "Company") is pleased to announce that it has closedsubscriptions for a previously announced non-brokered privateplacement. Subscriptions received aggregate 958,500 and represent19,170,000 units of the Company ("Units") at a price of 0.05 perUnit, exceeding the target of 850,000. Each Unit consists of onecommon share and one common share purchase warrant (a "Warrant") ofthe Company. Each Warrant entitles the holder to purchase oneadditional common share of the Company at 0.12 per share for 1 yearand thereafter at 0.18 per share until 2 years after closing.
The Company will be submitting all required documents to the TSXVenture Exchange ("TSXV") to secure their final acceptance. Closingof this private placement will occur following receipt of the TSXVfinal acceptance. Shareholders will be advised on a timely basis onany further developments. The securities to be issued pursuant tothis private placement will be subject to the customary 4-month holdperiod expiring.
The total proceeds of 958,500 from this offering will be used forexploration on the Company's Cumeral Property in Mexico, propertyoption payments, current accounts payable, current general corporateexpenses, and for working capital, after covering the cost of theissue.
About VVC:
VVC Exploration Corporation is a Canadian exploration company withprojects in Mexico and Canada, including gold/silver prospects inSonora and Sinaloa states, Mexico and in the Timmins area of northernOntario. VVC is also aggressively searching for other projects -mainly precious minerals and base metals at various stages ofdevelopment in North America, with an emphasis on near-surface goldand silver projects in Mexico.
On Behalf of the board of Directors
Michel J. Lafrance, Secretary-Treasurer
Neither the TSXV nor its Regulation Service Provider acceptsresponsibility for the adequacy or accuracy of this news release.
Contacts:
VVC Exploration Corporation
Patrick Fernet
Vice-President
514-631-2727
pfernet@vvcexploration.com
SOURCE: VVC Exploration Corporation
mailto:pfernet@vvcexploration.com
Copyright 2013 Marketwire, Inc., All rights reserved.
