VVC Exploration Corporation Announces Application For Management Cease Trade Order And Provides Financing Update

TORONTO, May 16, 2026 (GLOBE NEWSWIRE) -- VVC Exploration Corporation, dba VVC Resources (“VVC” or the “Company”) (TSX-V: VVC and OTCQB: VVCVF) announces that it has applied to the Ontario Securities Commission (the "OSC"), as its principal regulator, for a Management Cease Trade Order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203").

This application follows an anticipated delay in filing the Company’s audited annual financial statements, management's discussion and analysis, and related officer certifications for the fiscal year ended January 31, 2026 (collectively, the "Required Filings"), which are due on June 1, 2026.

Reason for Anticipated Default
The delay in completing the Required Filings is a direct result of recent material corporate developments involving Cyber Apps Solutions Corp. ("CYRB") and its operating unit, Proton Green, LLC, in which VVC holds an equity investment position. Public disclosures and third-party legal filings indicate that CYRB’s asset infrastructure is currently the subject of active foreclosure and liquidation proceedings initiated by secured credit facility lenders. Concurrently, CYRB has experienced an abrupt transition and vacancy within its executive management team.

Because these concurrent events create significant volatility regarding the valuation and recoverability of this asset, VVC’s auditors require a comprehensive asset-impairment analysis under IFRS 9 and IFRS 13. The Company has engaged an independent third-party valuation specialist to reconstruct a reliable valuation model. VVC expects to complete the Required Filings on or before June 30, 2026.

Financing & Corporate Update
In light of the operational adjustments required by the developments at CYRB, the Company also announces that it is actively pursuing capital-raising initiatives to protect working capital and fund ongoing operations, including its core helium and gold exploration assets. VVC is currently evaluating various financing options, which may include a proposed non-brokered private placement of securities.

Any such financing remains subject to compliance with the strict terms of the proposed MCTO, which prohibits the issuance or acquisition of securities from any director, officer, or insider of VVC during the period of the default. Further details regarding the terms, pricing, and closing dates of any such financing will be announced if and when they are finalized. There can be no assurance that any financing will be completed on terms acceptable to the Company, or at all.

Application of Guidelines
If granted, the MCTO will explicitly restrict and prohibit trading in the Company’s common shares by the Chief Executive Officer, the Chief Financial Officer, the Chief Operating Officer, all members of the Board of Directors, and all other senior officers of the Company for as long as the Required Filings remain outstanding. The issuance of the MCTO will not affect the ability of the general investing public to trade their listed securities. The Company intends to fully comply with the alternative information guidelines set forth in NP 12-203, including the issuance of bi-weekly status reports via news releases until the default is remedied.

Insider Trading and Blackout Policies
The Company's insider trading and public disclosure protocols are governed by its comprehensive Code of Business Conduct & Ethics and Board Charter. These policies strictly prohibit all directors, officers, and employees from trading in the Company's securities while in possession of material non-public information. Concurrently with the preparation of this application, the Corporate Secretary issued a mandatory ad hoc Blackout Notice to all insiders and employees completely freezing all trading and stock option exercises until the default is remedied.

About 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. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Gold & 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 TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com.

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.

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