Please note that press release c6545 transmitted on March 27, 2006 at
22:19e has been updated by the following version. Corrected copy
follows:
VVC Exploration closes private placement
TORONTO, March 27 /CNW Telbec/ - VVC EXPLORATION CORPORATION ("VVC" or
the "Company") announces that it closed subscriptions for a non-brokered
private placement at 50 cents per unit with total subscriptions amounting to
$806,000 for 1,612,000 units. Each unit comprises one common share and one
share-purchase warrant to purchase an additional share at a price per share of
$0.70 in the first year or $0.90 in the second year until March 24th, 2008.
The proceeds will be used for working capital and to make further capital
contribution to its Cooperative Joint Venture in Tong Guan Area in China. The
shares will be subject to resale restrictions for four months. The Private
Placement has not yet been accepted for filing by the TSXV. No insiders of the
Company subscribed to this private placement. An aggregate of $59,270 will be
paid in cash and 42,600 shares issued as Finders' fees to persons instrumental
in arranging the placement.
The Company is continuing to search for new resource projects in and
around China and evaluate such opportunities as they present themselves. Any
developments on this front will be announced to shareholders on a timely
basis.
For more information on the Company, please consult the public documents
filed on SEDAR at www.sedar.com.
About VVC:
---------
VVC Exploration Corporation is a Canadian exploration company with
properties in Canada and China. Its main assets are the participation of VVC
in Joint Ventures in producing gold mines in China, and its participation in
the Beaver Brook Antimony Mine in Newfoundland, Canada. The Company's
objective is to generate significant cash flow from operations in order to
aggressively pursue other projects in China. Please visit our Website at
www.vvcexploration.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
On Behalf of the board of Directors
(signed)
Michel J. Lafrance, Secretary-Treasurer
