TORONTO, June 4 /CNW Telbec/ - VVC EXPLORATION CORPORATION (VVC: TSX-V) (V7S: FSE / BBSE) ("VVC" or the "Company") reports that it has requested and been granted by the Ontario Securities Commission ("OSC"), a Temporary Management Cease Trade Order ("MCTO") which effectively means that no director, officer or other insider is permitted to buy, sell or otherwise transact in the shares of the Corporation until the audited financial statements for the year ending January 31, 2007 are filed.
The Notice of Default issued under CSA Staff Notice 57-301 is reprinted in its entirety in this news release as required by the OSC and contains similar information as the Company's news release of May 31, 2007.
NOTICE OF DEFAULT
VVC EXPLORATION CORPORATION FILING FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JANUARY 31, 2007 AFTER DUE DATE
VVC Exploration Corporation (the "Issuer") is unable to file financial
statements and its MD&A for the fiscal period ending January 31, 2007 by the
filing deadline of May 31, 2007.
The reason for the late filing relates to the delay in receiving the
required information concerning the Issuer's participation in the Tong Guan
CJV situated in China.
The Issuer expects to file the financial statements on or before June 30,
2007.
If by July 30, 2007 the financial statements have not been filed, the
Securities Commissions and regulators may impose an issuer cease trade order,
which may be imposed sooner if the Issuer fails to file its Default Status
Report on time.
The Issuer intends to issue a Default Status Reports on a bi-weekly basis
as long as it remains in default of the financial statement filing
requirement.
There are no insolvency proceedings in which the Issuer is subject to.
The Issuer intends to satisfy the Default Status Reports requirements, in
accordance with Appendix B of CSA Staff Notice 57-301, as long as it remains
in default of the financial statement filing requirement
There is no other material information concerning the affairs of the
Issuer that has not been generally disclosed.
About VVC:
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VVC Exploration Corporation is a Canadian exploration company with
projects in Canada. VVC also has an indirect participation in the Beaver Brook
Antimony Mine in Newfoundland, Canada. VVC is also aggressively searching for
other projects such as Gold, Base metal, Uranium and Antimony at various
stages of development. Visit our website at www.vvcexploration.com.
The TSX Venture Exchange has not reviewed and 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