Yahoo Finance VVC Exploration - Results of Annual Shareholders' Meeting and Option Grant
TORONTO, Aug. 19, 2021 (GLOBE NEWSWIRE) -- VVC Exploration Corporation ("VVC" or the "Company") (TSX-V:VVC) announces the following.
Shareholders' Meeting
The Company's virtual Annual General Meeting of Shareholders ("AGM”) took place virtually earlier today. At the AGM, shareholders unanimously approved the election of all Directors proposed by Management and the re-appointment of MNP LLP as auditors of the Company.
The formal business session of the AGM, was chaired by the Chairman of the Board, Terrence Martell. A Presentation and Q&A Session followed, whereby the President and CEO of the Company, Jim Culver, updated the attendees on the status of the Company.
The Formal Business session and the Presentation session of the AGM were recorded and will be posted on the Company website, as soon as possible.
In Board Meeting following the AGM, the Directors reappointed the following executive officers for VVC and the Chairman of the Board of Directors:
Jim Culver, President and CEO
Terrence Martell, Chairman of the Board
Kevin Barnes, Chief Financial Officer
Michel Lafrance, Secretary-Treasurer
VVC Chairman, Terrence Martell, commented, "On behalf of Management and the Directors, I wish to thank our shareholders for their loyal support throughout the past year, and we look forward to serving you for another year."
Option Grant
The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 14,750,000 common shares, representing 2.96%% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.14 per share expiring August 19, 2031. 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, 55.9% were to directors, 23.7% to Officers and 20.3% to Employees/Consultants of the Company.
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 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, Plateau Helium Corporation ("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 |
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.
