Business
VVC Exploration closes private placement
VVC Exploration closes private placement.
About this update from Vvc Exploration Corporation
[{"type":"text","content":"\n\n\n\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 flow-through common\nshare and one share-purchase warrant to purchase an additional share at $0.70\nin the first year and at $0.90 per share in the second year until March 24th,\n2008. The proceeds will be used for working capital and to make further\ncapital contribution to its Cooperative Joint Venture in Tong Guan Area in\nChina. The shares will be subject to resale restrictions for four months. The\nPrivate Placement has not yet been accepted for filing by the TSXV. No\ninsiders of the Company subscribed to this private placement. An aggregate of\n$59,270 will be in cash and 42,600 shares issued as Finders' fees to persons\ninstrumental in arranging the placement.\nThe Company is continuing to search for and evaluate new resource\nprojects in and around China. Any developments on this front will be announced\non a timely basis.\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\n On Behalf of the board of Directors\n\n (Signed)\n Michel J. Lafrance, Secretary-Treasurer\n\n\n","length":2075,"tagName":"div"}]