Business & Finance
Business and Finance
Business and Finance
Thu, July 16, 2009
Wed, July 15, 2009 VVC Exploration Corporation: VVC Exploration-Results of Annual General Meeting
TORONTO, ONTARIO--(Marketwire - July 15, 2009) - VVC EXPLORATION CORPORATION (TSX VENTURE:VVC)(FRANKFURT:V7S) ("VVC" or the "Company") announces that its Annual and General Meeting of Shareholders ("AGM") took place on July 9, 2009 and the shareholders approved the re-election of the existing Board of Directors. In addition, shareholders approved all other matters which were submitted with the proxy materials for approval at the AGM, including the 2009 Stock Option Plan and the re-appointment of MSCM LLP as auditors of the Company.
Following the formal part of the AGM, Mr. Peter Dimmell, P. Geo., a director and the technical person on the Board, gave a presentation and answered questions on the Company's Santa Valeria and Santa Cristina Projects in Mexico. Mr. Dimmell advised that, after visits to both properties, he felt that both showed excellent potential. Mr. Andre St. Michel, P. Eng., whose company, Invesmin San Miguel, is managing the exploration In Mexico for VVC, also addressed the meeting and answered questions from shareholders.
In a subsequent Board Meeting, the Director reappointed the following executive officers for VVC:
- Mr. Daniel Grenier, President and CEO
- Mr. Patrick Fernet, Chairman of the Board, VP Legal and Corporate Affairs
- Mr. Kevin Barnes, CFO
- Mr. Michel Lafrance, Secretary-Treasurer
"We are pleased that shareholders have shown their confidence in VVC's Management team by giving us a new mandate for the ensuing year," says Mr. Daniel Grenier. "We endeavour to enhance shareholder value by maximising the potential of VVC's new gold and silver projects in Mexico during the next 12 months."
VVC also reports having granted on July 10, 2009 to its consultants, an aggregate of 310,000 options to purchase common shares at $0.355 per share and 150,000 common shares at $0.285 per share, exerciseable at any time before July 10th, 2014. All options vest at the rate of 25% on approval and 25% every six months.
About VVC:
VVC Exploration Corporation is a Canadian exploration company with projects in the State of Chihuahua, Mexico and in Canada, including an indirect participation in the Beaver Brook Antimony Mine in Newfoundland, Canada. VVC is also aggressively searching for other projects such as precious and base metals and industrial minerals at various stages of development in North America, especially in Mexico, Quebec and Ontario. Our primary focus is precious metal projects in Mexico.
On Behalf of the board of Directors
Michel J. Lafrance, Secretary-Treasurer
Neither the TSXV or its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
