21:14:21 EDT Tue 21 May 2024
Enter Symbol
or Name
USA
CA



VVC Exploration Corp
Symbol VVC
Shares Issued 572,681,815
Close 2023-07-26 C$ 0.095
Market Cap C$ 54,404,772
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VVC investment Proton Green to be acquired by Cyber App

2023-07-28 10:59 ET - News Release

Mr. Jim Culver reports

PROTON GREEN, A STRATEGIC INVESTMENT OF VVC, ENTERS INTO DEFINITIVE SHARE EXCHANGE AGREEMENT TO FORM PREMIER PUBLICLY TRADED HELIUM AND BEVERAGE GRADE CO2 SUPPLIER

VVC Exploration Corp., doing business as VVC Resources, a major investor in Proton Green LLC, has provided an update. Proton Green has signed a definitive share exchange agreement with Cyber App Solutions Corp. The agreement signifies a significant milestone for Proton Green, establishing it as a leading publicly traded supplier of helium and beverage-grade CO2 (carbon dioxide) in North America.

Under the terms of the all-stock transaction, Cyber App Solutions will acquire Proton Green, with Proton Green shareholders set to own approximately 94.4 per cent of the combined entity. The current Proton Green management team and board of directors will lead the new organization. This strategic move paves the way for a name change to Proton Green Inc. and a planned ticker change to PGRN, a symbol that has already been reserved with Nasdaq Stock Market. Subsequently, Proton Green anticipates a Nasdaq uplisting in the second half of 2023, further solidifying its position in the public markets.

The combined company is poised to become a leader in sustainable helium and beverage-grade CO2 production, capitalizing on its exclusive resource rights to the vast 170,500-acre St. Johns field in Arizona. Recognized as one of the largest helium, CO2 and carbon storage reservoirs in North America, the St. Johns field contains an estimated 33 billion cubic feet of helium and nine trillion cubic feet of CO2 in accessible reservoirs. A notable advantage is that both the helium and CO2 extracted from the St. Johns field are entirely hydrocarbon-free.

Steve Looper, chief executive officer of Proton Green, expressed his enthusiasm about Proton Green's market entry: "We are pleased to enter the public markets through this share exchange agreement, providing the capital markets community with a compelling helium and CO2 pure play opportunity. As it stands today with phase I of helium production under way, we are now a top 10 helium producer in North America -- with a clear line of sight to becoming the second largest as we scale production in the coming quarters -- leveraging fixed-price offtake agreements with two multinational industrial gas distribution and marketing companies.

"Looking ahead, our vision for Proton Green is clear. We will seek to rapidly scale our helium production, begin beverage-grade CO2 production and set new sustainability benchmarks for the industry with our hydrocarbon-free gases. I firmly believe that we can scale helium production revenue from hundreds of thousands to millions of dollars per month by year-end. We're set to transform the industry while concurrently driving sustainable value for both our shareholders and their communities," concluded Mr. Looper.

As an investor in Proton Green, VVC Resources stands firmly behind the company's vision and recognizes the strategic significance of this share exchange agreement. The move positions Proton Green to capitalize on the growing demand for sustainable helium and beverage-grade CO2, paving the way for a prosperous future as a leading supplier in the North American market as well as the potential for carbon storage.

"We are thrilled to witness the union of Proton Green and Cyber App Solutions Corp., which marks a defining moment in the sustainable energy sector. As a committed investor in Proton Green, we are confident that this strategic amalgamation will position the combined entity as a dominant player in the North American market for helium and beverage-grade CO2. This milestone not only represents a tremendous growth opportunity for the company but also reinforces our dedication to fostering a greener and more sustainable future. We congratulate Steve Looper and his team on this significant milestone," said VVC chief executive officer Jim Culver.

About VVC Resources Corp.

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 and 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 Venture Exchange (TSX-V: VVC) and on the OTC (over-the-counter) market (OTCQB: VVCVF).

About Proton Green LLC

Proton Green is a leading operator of one of the largest helium and beverage-grade CO2 hubs in North America. The company maintains exclusive production rights to the St. Johns field, a 170,500-acre property in Arizona with a 33-billion-cubic-foot helium reservoir, a nine-trillion-cubic-foot CO2 reservoir and a basin with the potential to store one billion metric tonnes of CO2. The company is currently a top 10 producer of helium in North America -- a high-demand gas in both consumer and critical technology applications -- leveraging strategic offtake partners with fixed-price agreements to drive a predictable revenue stream. Notably, both helium and CO2 produced at the St. John's field contain no hydrocarbon component.

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