|By Marketwired .||
|October 17, 2013 05:27 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 10/17/13 -- This press release is issued pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares ("Common Shares") of VVC Exploration Corporation (the "Issuer"). Palos Merchant Fund L.P. ("Palos") is pleased to announce that on October 15, 2013 it acquired ownership of 29,786,945 Common Shares (the "Shares"). The Shares were acquired at a price of $0.05 per Share, paid by the transfer of common shares of Camex Mining Development Group Inc.
As a result of this transaction, Palos currently owns 32,706,922 Common Shares or approximately 21.79% of all issued and outstanding Common Shares.
The Shares were acquired pursuant to a private transaction for investment purposes. Palos expects to review from time to time its investments in the Issuer and may, depending on the market and other conditions, acquire additional securities or related financial instruments of the Issuer.
The acquisition was made in reliance on the business combination and reorganization exemption of National Instrument 45-106 - Prospectus and Registration Exemptions.
A report respecting this transaction will be electronically filed with the Autorite des marches financiers and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Palos has its head office at 1 Place Ville Marie, Suite 1812, Montreal, Quebec, H3B 4A9.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or to obtain a copy of
the report filed in connection with the transaction:
514-397-0188 ext. 289