TORONTO, Aug. 21, 2019 (GLOBE NEWSWIRE) -- VVC Exploration Corporation ("VVC" or the "Company") (VVC.V) announces that its Annual General Meeting of Shareholders ("AGM") took place on August 19, 2018 and that the shareholders approved the election of all Directors proposed by Management. In addition, shareholders approved all other matters presented at the AGM, including the re-appointment of MNP LLP as auditors of the Company. The aggregate votes cast at the AGM represented 108,046,549 shares or 35.1% of all issued and outstanding shares.
Following the formal part of the AGM chaired by Terrence Martell, the President of the Company, Jim Culver, updated the attendees on the status of the Company. Subsequently, Andre St-Michel, leading consultant to the Company in Mexico, provided a review of the Company's Gloria Copper Pilot Mine Project. This review and a short video on the Pilot Mine plan will be posted on the VVC website.
In a subsequent Board Meeting, the Directors reappointed the following executive officers for VVC:
- Jim Culver, President and CEO
- Terrence Martell, Chairman of the Board
- Kevin Barnes, Chief Financial Officer
- Michel Lafrance, Secretary-Treasurer
The Company also announces the grant of incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 10,150,000 common shares, representing 3.3% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring August 19, 2029. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed at the minimum allowable price. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 54.2% were to directors, 22.2% to Officers and 23.6% to Employees/Consultants of the Company.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, including the Samalayuca copper property in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States, Mexico. The Company also has a grassroots gold/VMS prospect in the Timmins area of northern Ontario.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet - (514) 631-2727
Eugene Braigen - (646) 245-3409
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.