TORONTO, Dec. 20 /CNW Telbec/ - VVC EXPLORATION CORPORATION (VVC: TSX-V)
(V7S: FSE / BBSE) ("VVC" or the "Company") reports that further to the
Company's Notice of Default contained in its news release of June 4, 2007 the
Company's reports having all documents required to correct the Default and is
now up to date with all its filings.
The Company's interim consolidated financial statements for the 2nd
quarter ending July 31, 2007 were filed on SEDAR today, together with its
Management Discussion and Analysis ("MD&A") for the same period and also the
MD&A for period ended April 30, 2007. The Company's interim consolidated
financial statements for the 1st quarter ending April 30, 2007 were filed last
week. The comparative figures for the period ending July 31, 2006 have been
restated to report a dilution loss of $105,629 and an increase in the equity
in loss of $32,621. This is consistent with the restatement of the financial
statements for the year ended January 31, 2007 as was reported in the news
release on November 13th, 2007.
The Company is currently preparing the financial statements and MD&A for
the 3rd Quarter ending October 31st, 2007 and anticipates filing them before
the due date of December 31, 2007.
The management cease trade order ("MCTO") which has been in place since
June 4, 2007, restricts Directors and Management from trading the securities
of the Company. Persons unrelated to the Company may still trade their
securities. The Company's shares trade on the TSX Venture Exchange under the
symbol "VVC" and on the Frankfurt Stock Exchange and the Berlin-Bremen Stock
Exchange under the symbol "V7S". The Company is continuing its exploration
activities and its search for new property acquisitions.
The MCTO will be removed after the Ontario Securities Commission has
reviewed the documents filed on SEDAR and are satisfied that the Company is
compliance. The timing of this is outside the control of the Company.
VVC Exploration Corporation is a Canadian exploration company with
projects in Canada. VVC also has an indirect participation in the Beaver Brook
Antimony Mine in Newfoundland, Canada. VVC is also aggressively searching for
other projects such as Gold, Base metal, Uranium and Antimony at various
stages of development. Visit our website at www.vvcexploration.com.
The TSXV has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.
On Behalf of the board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information:
For further information: Charles Descary, Manager, Investor Relations,
(514) 631-2727, 1-877-558-2727 ext 222, firstname.lastname@example.org;