VVC Drilling Wells on Plateau Helium's Syracuse Property
August 19, 2021
VVC Exploration Corporation ("VVC" or the "Company") (TSX-V:VVC) is pleased to announce the following updates from Plateau Helium Corporation (PHC), VVC’s wholly owned helium exploration and production company:
- Drilling on the first new Syracuse well, Durler 2-21, began on August 2nd with drilling completed on August 12th. The well was drilled to a depth of 5,500 ft and encountered 2 gas zones that showed helium. The well completion, perforation, well-head installation, and attachment to the pipeline for commencement of production will occur in approximately 2 weeks.
- Drilling of a second Syracuse well, Levens 2, began on August 14th and is expected to be completed on August 22nd. The well completion, perforation, well-head installation, and attachment to the pipeline will begin shortly after.
- Drilling of a third Syracuse well is scheduled to begin on August 24th.
All potentially productive gas zones encountered during the drilling of these wells will be evaluated. If a firm pattern is established one or more additional rigs may be added.
VVC President Jim Culver commented, "With the drilling of these wells, we are getting closer to generating positive cash flows from the helium business. This is the Company’s immediate goal, as it will help provide funding to the Company's other projects."
TORONTO, March 18, 2025 - VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following: Appointment of Officers The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC. VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC." 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 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. 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, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.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.
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.
