VVC Resources Received US$5 Million
TORONTO, Aug. 04, 2023 (GLOBE NEWSWIRE) — VVC Exploration Corporation, dba VVC Resources, (“VVC” or the “Company”), (TSX-V:VVC and OTCQB:VVCVF) received US$5,000,000 from the sale of a small portion of its ownership in Proton Green, LLC (“Proton Green”). VVC sold approximately one-seventh of its ownership in Proton Green and remains a significant investor in Proton Green, holding over 12%.
The proceeds from the private transaction enhance VVC’s overall financial position. Management intends to accelerate its U.S. helium and natural gas programs, as well as to continue development of its copper property in Mexico.
Specifically, in the U.S., VVC will complete the eight Syracuse wells that are adjacent to its completed internal pipeline. VVC will also test two promising helium and natural gas system wells in northwest Kansas.
“We are delighted with the outcome,” said Terrence Martell, Chairman of VVC. “The additional capital reinforces our financial stability and provides us with the resources required to continue development of our focus projects in helium.”
About VVC Resources
VVC engages in the exploration, development, and management of natural resources – specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com.
|On behalf of the Board of Directors|
|Michel J. Lafrance, Secretary-Treasurer|
|For further information, please contact:|
|Patrick Fernet – (514) 631-2727||or||Trevor Burbank – (214) 641-1041|
|E-mail: [email protected]||E-mail: [email protected]|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee”, “strategy”, “success” or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others: intends to accelerate its U.S. helium and natural gas programs, as well as to continue development of its copper property in Mexico; will complete the eight Syracuse wells that are adjacent to its completed internal pipeline; will also test two promising helium and natural gas system wells; etc.
Such forward-looking information or statements are based on several risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding acquisitions, production of helium, future development and growth, plans for and completion of projects by Company’s third-party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, without limitation, operational risks in the completion of Company’s anticipated projects, delays or changes in plans with respect to the development of Company’s anticipated projects by Company’s third-party relationships, risks affecting the ability to develop projects, risks in legislative changes in the applicable jurisdictions, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, risks in decrease of price of helium and copper. No assurances can be given that the efforts by Company will be successful.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements, except as required by law.
Investors are cautioned that notwithstanding the expectations described herein, there can be no assurance that the plans described herein will be completed as proposed. Trading in the securities of VVC should be considered highly speculative. All forward-looking statements contained in this press release are expressly qualified in their entirety by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).