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 flow-through common
share and one share-purchase warrant to purchase an additional share at $0.70
in the first year and at $0.90 per share 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 in cash and 42,600 shares issued as Finders' fees to persons
instrumental in arranging the placement.
The Company is continuing to search for and evaluate new resource
projects in and around China. Any developments on this front will be announced
on a timely basis.
For more information on the Company, please consult the public documents
filed on SEDAR at www.sedar.com.
About VVC:
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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
