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VVC Exploration Corporation Announces Application For Management Cease Trade Order And Provides Financing Update
TORONTO, May 16, 2026 (GLOBE NEWSWIRE) -- VVC Exploration Corporation, dba VVC Resources (“...
About this update from Vvc Exploration Corporation
[{"type":"text","content":"VVC Exploration Corporation Announces Application For Management Cease Trade Order And Provides Financing Update\nTORONTO, May 16, 2026 (GLOBE NEWSWIRE) -- VVC Exploration Corporation, dba VVC Resources (“VVC” or the “Company”) (TSX-V: VVC and OTCQB: VVCVF) announces that it has applied to the Ontario Securities Commission (the \"OSC\"), as its principal regulator, for a Management Cease Trade Order (\"MCTO\") under National Policy 12-203 – Management Cease Trade Orders (\"NP 12-203\"). This application follows an anticipated delay in filing the Company’s audited annual financial statements, management's discussion and analysis, and related officer certifications for the fiscal year ended January 31, 2026 (collectively, the \"Required Filings\"), which are due on June 1, 2026. Reason for Anticipated DefaultThe delay in completing the Required Filings is a direct result of recent material corporate developments involving Cyber Apps Solutions Corp. (\"CYRB\") and its operating unit, Proton Green, LLC, in which VVC holds an equity investment position. Public disclosures and third-party legal filings indicate that CYRB’s asset infrastructure is currently the subject of active foreclosure and liquidation proceedings initiated by secured credit facility lenders. Concurrently, CYRB has experienced an abrupt transition and vacancy within its executive management team. Because these concurrent events create significant volatility regarding the valuation and recoverability of this asset, VVC’s auditors require a comprehensive asset-impairment analysis under IFRS 9 and IFRS 13. The Company has engaged an independent third-party valuation specialist to reconstruct a reliable valuation model. VVC expects to complete the Required Filings on or before June 30, 2026. Financing & Corporate UpdateIn light of the operational adjustments required by the developments at CYRB, the Company also announces that it is actively pursuing capital-raising initiatives to protect working capital and fund ongoing operations, including its core helium and gold exploration assets. VVC is currently evaluating various financing options, which may include a proposed non-brokered private placement of securities. Any such financing remains subject to compliance with the strict terms of the proposed MCTO, whic...