Business
/C O R R E C T I O N from source - VVC EXPLORATION CORPORATION/
/C O R R E C T I O N from source - VVC EXPLORATION CORPORATION/.
About this update from Vvc Exploration Corporation
[{"type":"text","content":"\n\n\n\n\nPlease note that press release c6545 transmitted on March 27, 2006 at \n22:19e has been updated by the following version. Corrected copy \nfollows:\n\nVVC Exploration closes private placement\n\nTORONTO, March 27 /CNW Telbec/ - VVC EXPLORATION CORPORATION (\"VVC\" or\nthe \"Company\") announces that it closed subscriptions for a non-brokered\nprivate placement at 50 cents per unit with total subscriptions amounting to\n$806,000 for 1,612,000 units. Each unit comprises one common share and one\nshare-purchase warrant to purchase an additional share at a price per share of\n$0.70 in the first year or $0.90 in the second year until March 24th, 2008.\nThe proceeds will be used for working capital and to make further capital\ncontribution to its Cooperative Joint Venture in Tong Guan Area in China. The\nshares will be subject to resale restrictions for four months. The Private\nPlacement has not yet been accepted for filing by the TSXV. No insiders of the\nCompany subscribed to this private placement. An aggregate of $59,270 will be\npaid in cash and 42,600 shares issued as Finders' fees to persons instrumental\nin arranging the placement.\nThe Company is continuing to search for new resource projects in and\naround China and evaluate such opportunities as they present themselves. Any\ndevelopments on this front will be announced to shareholders on a timely\nbasis.\nFor more information on the Company, please consult the public documents\nfiled on SEDAR at www.sedar.com.\n\nAbout VVC:\n---------\n\nVVC Exploration Corporation is a Canadian exploration company with\nproperties in Canada and China. Its main assets are the participation of VVC\nin Joint Ventures in producing gold mines in China, and its participation in\nthe Beaver Brook Antimony Mine in Newfoundland, Canada. The Company's\nobjective is to generate significant cash flow from operations in order to\naggressively pursue other projects in China. Please visit our Website at\nwww.vvcexploration.com.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this news release.\n\n On Behalf of the board of Directors\n\n\n (signed)\n\n Michel J. Lafrance, Secretary-Treasurer\n\n\n","length":2313,"tagName":"div"}]