SPGP closes Private Placement in VVC Exploration Corporation

MONTREAL, May 12 /CNW Telbec/ - In accordance with regulatory
requirements, SPGP ("SPGP") announces that its acquisition of 4,880,000 units
(the "Units") of VVC Exploration Corporation ("VVC") (TSXV:VVC), at a price of
CAD$0.82 per Unit has closed. Each Unit consists of one common share and one
non-transferable share purchase warrant, each warrant entitling the holder to
purchase one additional share in the capital of the Company, for a period of
24 months, at a price of $1.50 per share. The transaction took place off the
market by way of a private placement that closed in escrow on April 28, 2005
and was released from escrow on May 9, 2005. These shares, warrants and any
shares issued upon the exercise of the warrants are subject to a hold period
expiring August 29, 2005.
SPGP has ownership of and control over the 5,274,000 shares and 4,880,000
warrants which would represent approximately 27.39% of the issued and
outstanding shares of the Company if the warrants were exercised today. The
27.39% represents the percentage ownership on a partial diluted basis.
SPGP purchased the Units for investment purposes only and not with a
purpose of influencing control or direction of the Company. SPGP, together
with joint actors, if any, may, subject to market conditions, make additional
investments in or dispositions of shares of the Company in the future.
However, SPGP and its joint actors, if any, do not intend to acquire 20% or
more of any class of the outstanding voting or equity securities of the
Company.

    The TSX Venture Exchange has not reviewed and does not accept
  responsibility for the adequacy or accuracy of this news release.

                                                    (Signed)

                                                    Guy-Philippe Bertin

                                                    Fund Manager