2014 – December 31 – press release

Notice of Change of Auditor

December 31, 2014 – Vancouver, B.C.
Valdor Technology International Inc. (“Valdor”) (TSX: VTI-V) (OTC: VTIFF) (Frankfurt: VZAA) reports that notice has been given, pursuant to section 4.11 of National Instrument 51-102 – Continuous disclosure Obligations (“NI 51-102”), of a change of auditor of Valdor.

  1. (1) I. Vellmer Inc., Chartered Accountants, has resigned as auditor of Valdor, at the request of Valdor, effective November 18, 2014.
  2. (2) The Valdor Audit Committee has considered the resignation of I. Vellmer and has recommended that Crowe MacKay LLP be appointed to fill the vacancy in the office of auditor, until the next annual general shareholders meeting.
  3. (3) The Board of Directors of Valdor has considered the resignation of I. Vellmer, and the recommendation of the Audit Committee, and has appointed Crowe MacKay as auditor to hold office until the next annual general shareholders meeting.
  4. (4) There were no reservations in the I. Vellmer reports on the financial statements of Valdor for the two most recently completed financial years or for any period subsequent thereto for which an audit report was issued, and preceding the effective date of the resignation of I. Vellmer.
  5. (5) In the opinion of the Audit Committee, and the Board of Directors, there are no reportable events as defined in subparagraph 4.11(1) of NI 51-102.

In accordance with terms of the Valdor Stock Option Plan the Board of Directors has agreed to grant, to certain directors and officers, 4,200,000 incentive stock options with an exercise price of $0.10/share. These will expire in five years from date of grant.