Business
VVC Exploration requests and obtains Management Cease Trade Order
VVC Exploration requests and obtains Management Cease Trade Order.
About this update from Vvc Exploration Corporation
[{"type":"text","content":"\n\n\n\nTORONTO, June 4 /CNW Telbec/ - VVC EXPLORATION CORPORATION (VVC: TSX-V)\n(V7S: FSE / BBSE) ("VVC" or the "Company") reports that it has requested and\nbeen granted by the Ontario Securities Commission ("OSC"), a Temporary\nManagement Cease Trade Order ("MCTO") which effectively means that no\ndirector, officer or other insider is permitted to buy, sell or otherwise\ntransact in the shares of the Corporation until the audited financial\nstatements for the year ending January 31, 2007 are filed.\n\n\nThe Notice of Default issued under CSA Staff Notice 57-301 is reprinted\nin its entirety in this news release as required by the OSC and contains\nsimilar information as the Company's news release of May 31, 2007.\n\n\n NOTICE OF DEFAULT\n VVC EXPLORATION CORPORATION FILING FINANCIAL STATEMENTS\n FOR THE FISCAL YEAR ENDED JANUARY 31, 2007 AFTER DUE DATE\n\nVVC Exploration Corporation (the "Issuer") is unable to file financial\nstatements and its MD&A for the fiscal period ending January 31, 2007 by the\nfiling deadline of May 31, 2007.\nThe reason for the late filing relates to the delay in receiving the\nrequired information concerning the Issuer's participation in the Tong Guan\nCJV situated in China.\nThe Issuer expects to file the financial statements on or before June 30,\n2007.\nIf by July 30, 2007 the financial statements have not been filed, the\nSecurities Commissions and regulators may impose an issuer cease trade order,\nwhich may be imposed sooner if the Issuer fails to file its Default Status\nReport on time.\nThe Issuer intends to issue a Default Status Reports on a bi-weekly basis\nas long as it remains in default of the financial statement filing\nrequirement.\nThere are no insolvency proceedings in which the Issuer is subject to.\nThe Issuer intends to satisfy the Default Status Reports requirements, in\naccordance with Appendix B of CSA Staff Notice 57-301, as long as it remains\nin default of the financial statement filing requirement\nThere is no other material information concerning the affairs of the\nIssuer that has not been generally disclosed.\n\nAbout VVC:\n----------\n\nVVC Exploration Corporation is a Canadian exploration company with\nprojects in Canada. VVC also has an indirect participation in the Beaver Brook\nAntimony Mine in Newfoundland, C...