05:56:37 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



VVC Exploration Corp
Symbol VVC
Shares Issued 572,681,815
Close 2023-09-07 C$ 0.075
Market Cap C$ 42,951,136
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VVC investment co. Proton sells first helium from plant

2023-09-07 16:20 ET - News Release

Mr. Jim Culver reports

PROTON GREEN - A STRATEGIC INVESTMENT OF VVC - ANNOUNCES FIRST HELIUM SALES

Proton Green LLC (PG), a strategic investment of VVC Exploration Corp., doing business as VVC Resources, recently noted its first helium sales. The helium was produced at PG's phase 1 helium extraction plant located at St. Johns Field in Arizona. Proton Green is a wholly owned subsidiary of Cyber App Solution Corp. VVC owns approximately 11.9 per cent of Cyber App Solution.

The phase 1 helium extraction plant, situated on the expansive 170,500-acre St. Johns Field asset in Apache county, Arizona, initiated production operations in July, 2023. This region is renowned for hosting one of the largest helium and carbon dioxide reservoirs in North America, boasting an estimated 33 billion cubic feet of helium and a staggering 517 million tons of CO2 (carbon dioxide) in accessible reservoirs (see PG's corporate profile on its website). Those estimates were extracted from an evaluation report prepared by William M. Cobb & Associates Inc., revised May 6, 2022.

"We are exceptionally proud of our team's hard work to reach phase 1 production capacity over the last several weeks, as standard ramp and risk management procedures were executed," said Steve Looper, chief executive officer of Proton Green. "Shortly after beginning helium production, we executed our first sale to one of our fixed-price offtake customers, marking the first commercialization milestone for Proton Green. As we scale production several-fold in the coming quarters, we have a clear line of sight to becoming among the largest helium producers in North America.

"We are now analyzing our production from phase 1 to help optimize the completion of our phase 2 infrastructure, for which we expect to begin construction in the coming months. We look forward to continued operational execution in the months ahead as we strive to deliver sustainable, long-term value to our shareholders," concluded Mr. Looper.

Jim Culver, CEO of VVC, expressed his excitement about this pivotal moment in Proton Green's journey: "Proton Green's achievement is a testament to the vision and dedication of their team, and it aligns perfectly with VVC's investment philosophy. This milestone reinforces Proton Green's future potential and their ability to deliver value to their shareholders, including VVC."

Read the full release from Proton Green on-line.

About VVC Exploration 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, 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 western U.S.; copper and associated metals operations in northern Mexico; and strategic investments in carbon sequestration and other green energy technologies.

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, 517-billion-ton CO2 reservoir and a basin with the potential to store one billion metric tonnes of CO2. The company is currently one of the leading producers 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 St. Johns field contain no hydrocarbon component.

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