TORONTO, Dec. 17 /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
following is the Company's bi-weekly default status report pursuant to
Appendix B of CSA Policy 57-301:
The Company's interim consolidated financial statements for the 1st
quarters ending April 30, 2007 were filed on SEDAR on December 13th,
2007. The comparative figures for the period ending April 30, 2006 have
been restated to report a decrease in long term investment in BBAM of
$131,916, a dilution loss of $105,629 and an increase in the equity in
loss of $32,621. This was to be 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 still late in filing its interim consolidated financial
statements for the second quarters ending July 31, 2007 and its
Management Discussion and Analysis ("MD&A") for same period and for
period ended April 30th, 2007. The Company is currently and
expeditiously working on the prepa-ration of this quarterly statements
and MD&A's which should be filed within a few days. The Company also
anticipates filing the financial statements and & MD&A for the period
ending October 31st, 2007 before the due date of December 31, 2007.
The cease trade order 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
Company is also in excellent financial situation.
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, email@example.com