VVC Exploration Corporation ("
VVC" or the
"
Company") is pleased to announce that it has
successfully completed and connected its first helium well in the
Syracuse Project, known as the Levens #2, to Tumbleweed Midstream’s
Ladder Creek Pipeline (the "Pipeline"). The Pipeline transports gas
to the Ladder Creek Helium Processing Plant in Cheyenne Wells,
Colorado.
Located in Hamilton County, Kansas, the Levens
#2 is part of the Company’s 16,400-acre Syracuse Project. The
Levens #2 was successfully drilled to a depth of 2,478 feet and
encountered multiple gas zones. Following a period of clean-up and
additional analysis over 30-45 days, our technical team will report
on the average flow rates, helium percentages and economic
viability of this well. This data is expected to be announced when
it becomes available in early to mid-May.
"The connection of the Levens #2 well to the
Ladder Creek Pipeline is the culmination of a tremendous amount of
work by VVC’s helium team and represents an inflection point for
VVC’s helium business. The Syracuse Project wells are the
foundation for, and the beginning of, the massive growth in helium
production, anticipated to occur by year’s end. We are particularly
happy with the platform for growth that our professional team has
built," commented Jim Culver, VVC President and CEO.
The Syracuse Project is one of the Company’s
four helium projects, aggregating to approximately 41,000 acres
leased, with leasing continuing.
Stockhouse PublishingPursuant
to an arrangement with Stockhouse Publishing Ltd. ("Stockhouse") in
August 2021, Stockhouse is assisting VVC with general market
outreach and investor awareness as VVC continues to grow its
investor base. This arrangement provided VVC with access to over 30
different marketing tools focused on editorial, brand awareness and
amplifying news on VVC, in order to reach a larger investor
audience. Stockhouse provided us with the opportunity to reach out
to the investment community, and create a platform to educate and
inform our investors in a more personal manner about the Company's
projects.
As provided in the Agreement, VVC intends to
settle, as a third tranche, $15,000 of the amount owing for
services by the issuance of 125,000 shares at the price of $0.120
per share, being yesterday's market price discounted by 25%. Two
other share issuances will occur in three and six months for the
remaining $30,000.
The Securities to be issued pursuant to this
transaction will be subject to the approval of the TSX Venture
Exchange and to the applicable statutory, exchange and regulatory
hold period of four months and any other required resale
restrictions.
About VVC Exploration
Corporation VVC is a publicly traded Canadian-based mining
exploration and development company listed on the TSX Venture
Exchange (TSX-V:VVC). With the addition of Plateau Helium
Corporation ("PHC"), VVC is also a Helium producing company. VVC’s
portfolio includes the Gloria Copper Project in Northern Mexico,
precious metals properties also in Mexico and the Helium Projects
owned by its wholly owned subsidiary, PHC. VVC is currently focused
on the Helium Projects owned by PHC and will resume the development
of Gloria Copper Project, as soon as Covid-19 restrictions are
removed in Mexico. To learn more, visit our website at:
http://vvcexpl.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 |
pfernet@vvcexploration.com |
|
trevor@vvcexpl.com |
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.
2369 Kingston Road, PO Box 28059 Terry
Town, Scarborough, ON M1N 4E7 – Tel:
416-619-5304
FORWARD LOOKING STATEMENTS:
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" or similar
words suggesting future outcomes or statements regarding an
outlook. Such statements include, among others: data is
expected to be announced ... in early to mid-May; the massive
growth in helium production, anticipated to occur by year’s end;
etc.
Such forward-looking information or statements
are based on a number of 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 related to Covid-19,
risks affecting the ability to develop projects, risks in
legislative changes in the applicable jurisdictions, risks in
decrease of price of helium. 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 or that the
results will be as expected. 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.sedar.com).
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