VVC Exploration-Option Grant & Start of Exploration
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/28/11 -- VVC EXPLORATION CORPORATION (TSX VENTURE: VVC)(FRANKFURT: V7S) ("VVC" or the "Company") announced the grant of additional incentive stock options under its stock option plan to certain directors, officers and associates of the Company to purchase up to an aggregate of 1,450,000 common shares, representing 2.3% of the outstanding shares of the Company. Options granted to the Company's officers and associates represent 65.5% of the total grants, and options to the independent members of the Board of Directors of the Company represent 34.5% of the total grants. The stock options are exercisable at a price of CA$0.20 per share expiring October 20, 2021. There are currently 4,721,000 options outstanding and 61,822,390 common shares outstanding.
The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter. The options were granted subject to provisions of the Company's stock option plan which was ratified by shareholders in July 2010, and subject to the TSX Venture Exchange policies and the applicable securities laws.
The Company also announces having commenced an exploration program on its Cumeral Property in Mexico, consisting of Prospecting, Sampling and Geological Mapping. Upon completion of the field work and receipt of all analytical data, the results will be compiled and evaluated by our geological team who will then recommend and propose the next phase of follow-up exploration on the Cumeral Property. The Company will be required to raise additional financing in order to proceed to the next phase.
The technical aspects of this news release were reviewed by Peter Dimmell, P.Geo., a director of VVC, who is a Qualified Person (QP) in both NL and ON, as defined in National Instrument 43-101.
About VVC:
VVC Exploration Corporation is a Canadian exploration company with projects in Mexico and Canada. This includes gold prospects in Sonora and Sinaloa, Mexico, and grass-roots gold properties in the Timmins area of northern Ontario and in the Beauce-Bellechasse area of southern Quebec. VVC is also aggressively searching for other projects - mainly precious minerals and base metals at various stages of development in North America, with an emphasis on near-surface gold and silver projects in Mexico.
On Behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives that subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding financings are subject to all of the risks and uncertainties normally incident to fund raising by public companies. Statements regarding present and future exploration are subject to all the risks and uncertainties normally associated with exploration and are conditional on the Company having or raising the necessary cash resources to implement and complete the exploration program. These risks include, but are not limited to, market conditions and regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Neither the TSXV nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
VVC Exploration Corporation
Patrick Fernet
Vice-President
514-631-2727
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 81475
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 276 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"VVC Exploration-Option Grant & Start of Exploration"
steht unter der journalistisch-redaktionellen Verantwortung von
VVC Exploration Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
