06:36:04 EDT Tue 21 May 2024
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USA
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VVC Exploration Corp
Symbol VVC
Shares Issued 572,681,815
Close 2023-06-23 C$ 0.05
Market Cap C$ 28,634,091
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VVC investment co. Proton starts work at St. Johns

2023-06-26 17:16 ET - News Release

Mr. Patrick Fernet reports

VVC ACHIEVES CASHFLOW GENERATING MILESTONE

VVC Exploration Corp.'s strategic investment, Proton Green LLC, the operator of one of the leading helium, beverage grade CO2 (carbon dioxide) and carbon sequestration hubs in North America, has started its phase I helium extraction plant at its St. Johns Dome asset, which spans approximately 150,000 contiguous acres. The St. Johns asset is located in Apache county, Arizona, atop one of the largest helium and carbon dioxide reservoirs in North America, with an estimated 33 billion cubic feet of helium and nine trillion cubic feet of CO2 in accessible reservoirs. Notably, both helium and CO2 produced from the region contain no hydrocarbon component.

According to Steve Looper, chief executive officer of Proton Green: "With initiation of production at its phase I helium extraction plant, Proton Green joins the Top 10 ranks as a helium producer in North America, being junior to Exxon, Kinder Morgan, NASCO and others as leading producers. Proton Green's phase I helium extraction plant will reach nameplate production capacity over the next several weeks, as standard ramp-up and risk management procedures are executed. Proton Green's production has been contracted for fixed-price offtake with two multinational industrial gas distribution and marketing companies."

With its 14.09-per-cent ownership, VVC expects to begin recognizing cash flows from the free cash generated by Proton Green. "We are truly excited about this new development," said Terrence Martell, chairman of VVC. "We look forward to future monetizing efforts that this strategic investment brings now that Proton Green will be generating free cash in the near term."

About VVC Resources Corp.

VVC is engaged 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. The company's portfolio includes a diverse set of multiasset, high-growth projects, comprising helium and industrial gas production in the Western United States, copper and 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 TSX-V (TSX-V: VVC) and on the OTC Market (OTCQB: VVCVF).

About Proton Green LLC

Proton Green is poised to become one of the leading North American producers of helium and beverage-grade CO2, while also building out its position as one of the leading carbon sequestration operators in North America. With operating control over the St. Johns field, a 152,000-acre property in Apache county, Arizona, the company controls a massive helium reservoir, CO2 reservoir and carbon storage basin. Both helium and beverage-grade CO2 remain in short supply. Helium is used to cool magnets in MRI systems, as the temperate of silicon during semiconductor manufacturing, for space and satellite system applications, as well as in many other critical technologies. Carbon capture and sequestration is fast becoming a climate imperative, and the company has the ability to inject up to 22 million metric tons of CO2 per year at its primary basin, and over one billion tons of total storage capacity.

We seek Safe Harbor.

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