VVC Exploration - Closing of Samalayuca Cobre Share Acquisit

VVC Exploration - Closing of Samalayuca Cobre Share Acquisition and Debt Conversion of CA$583,632


VVC Exploration Corporation announces the following: Pursuant to agreements entered into with three arm’s length parties in August and September 2020, as per the news release of November 3, 2020, VVC completed the acquisition of 83,333 additional shares of Samalayuca Cobre S.A. de C.V. representing 66.25% of the outstanding shares of SCSA. In consideration, VVC issued 27,200,000 common shares of VVC and 32,500,000 …
VVC Exploration Corporation (” VVC ” or the ” Company “) (TSX-V:VVC) announces the following:
Acquisition of 100% of Samalayuca Cobre
Pursuant to agreements entered into with three arm’s length parties in August and September 2020, as per the news release of November 3, 2020, VVC completed the acquisition of 83,333 additional shares of Samalayuca Cobre S.A. de C.V. (“SCSA”), representing 66.25% of the outstanding shares of SCSA. In consideration, VVC issued 27,200,000 common shares of VVC and 32,500,000 warrants to other three shareholders of SCSA. The shares and warrants will be subject to the Statutory 4-month Hold Period in Canada expiring April 22, 2021.   Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of CA$0.06 per share until November 3, 2025. Cash payments aggregating US$750,000 will be paid on the occurrence certain pre-determined milestones.

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