Business
VVC Exploration amends the expiry date of 632,000 warrants
VVC Exploration amends the expiry date of 632,000 warrants.
About this update from Vvc Exploration Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, Jan. 4 /CNW Telbec/ - VVC EXPLORATION CORPORATION (\"VVC\" or the\n\"Company\") announces that on December 31st, it closed subscriptions for a non-\nbrokered flow-through private placement at 60 cents per unit with total\nsubscriptions amounting to $85,100 for 141,000 units. Each unit comprises one\nflow-through common share and one share-purchase warrant to purchase an\nadditional share at $0.90 per share until December 31st, 2006. The Company\nwill renounce to the investors $85,100 of exploration expenditures to be\nincurred in 2006 on the Beaver Brook Project and/or any other eligible\nexploration owned by the Company The shares are subject to resale restrictions\nfor four months. The Private Placement has not yet been accepted for filing by\nthe TSXV. Insiders of the Company subscribed for less than 20% of the total\nsubscription.\nIn addition, the Company also completed a Debt Conversion Agreement\nwhereby CAD$148,200 of indebtedness owing to a arm-length party will be\nretired by the issuance of 247,000 common shares of the Company (at) $0.60 per\nshare, subject to the approval of the TSX Venture Exchange and all other\nnecessary regulatory approvals.\nFor more information on the Company, please consult the recently filed\nFinancial Statements and Management Discussion and Analysis for the 9-months\nended October 31st, 2005 and other public documents filed on SEDAR at\nwww.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 (Signed)\n Michel J. Lafrance, Secretary-Treasurer\n\n\n","length":2261,"tagName":"div"}]