Mr. Michel Lafrance reports
INSIDER LOAN TO CORPORATION
VVC Exploration Corp., doing business as VVC Resources, has provided the following update.
Loan from chairman
VVC's chairman of the board, Terrence Martell, PhD, has provided a $700,000 (U.S.) loan to VVC's subsidiary, Plateau Helium Corp., for use in operating and developing its helium/PNG (petroleum and natural gas) assets in Kansas. The loan, secured by a promissory note, is payable on demand and bears no interest. The loan contains a conversion option whereby, at the sole option and discretion of the lender, all or any portion of the outstanding principal amount can be settled with up to 230,000 shares of Cyber App Solutions at a price of $3.09 (U.S.) per share.
Director resignation
Steven Looper has resigned as a director of the company for personal reasons and his resignation was accepted by the board with regret. VVC would like to thank Mr. Looper, who served the company as director since September, 2023. Jim Cuver, VVC chief executive officer, commented: "VVC regrets Steve's decision to leave the board of directors, but we understand the pressure for him to do so as he drives Proton Green to become a major player in both the helium and beverage CO2 production. Steve, we wish you all the best and stand ready to help you in any way we can." No replacement director has yet been appointed. The vacancy will most likely be filled in the months to come or at the next shareholders meeting before the end of the year.
About VVC Exploration Corp. (VVC Resources)
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 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,
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