Proton Green LLC, a strategic investment of VVC Exploration Corporation, dba VVC Resources, (‘VVC’ or the ‘Company’), (TSX-V:VVC and OTCQB:VVCVF) recently announced its first helium sales . The helium was produced at PG’s Phase I Helium Extraction Plant located at St. Johns Field in Arizona. Proton Green is a wholly owned subsidiary of Cyber App Solution Corp. (OTC: CYRB). VVC owns approximately 11.9% of Cyber App Solution Corp.
The Phase I 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 CO 2 in accessible reservoirs (see PG Corporate Profile on their 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 I 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 I to help optimize the completion of our Phase II 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 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 here .
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.; Copper & 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) and on the OTC Market (OTCQB:VVCVF). To learn more, visit our website at: www.vvcresources.com .
About Proton Green, LLC
Proton Green LLC (OTC: CYRB) is a leading operator of one of the largest Helium and beverage grade CO 2 hubs in North America. The Company maintains exclusive production rights to St. Johns Field, a 170,500 acre property in Arizona with a 33 billion cubic feet helium reservoir, 517 million ton CO 2 reservoir and a basin with the potential to store 1 billion metric tons of CO 2 . 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 CO 2 produced at St. John’s Field contain no hydrocarbon component. To learn more, please visit our website at https://www.protongreen.com/ .
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet – (514) 631-2727
Mike Culver – (202) 531-6559
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.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
This press release contains ‘forward-looking statements’ within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: ‘anticipate,’ ‘intend,’ ‘plan,’ ‘goal,’ ‘seek,’ ‘believe,’ ‘project,’ ‘estimate,’ ‘expect,’ ‘strategy,’ ‘future,’ ‘likely,’ ‘may,’ ‘should,’ ‘will’ and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions ‘Risk Factors’ and ‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’ in our most recent Registration Statement filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
News Provided by GlobeNewswire via QuoteMedia