$1,420,000 Non-Brokered Private Placement Closed
July 15, 2014 – Vancouver, B.C.Valdor Technology International Inc. (“Valdor”) (TSX: VTI-V) (OTC: VTIFF) is pleased to report that a non-brokered Private Placement for 14,200,000 Units at a price of $0.10 per unit with total proceeds realized of $1,420,000 has been completed. Each Unit consists of one common share of Valdor and one non-transferable three year share purchase warrant. Each warrant allows the holder thereof to purchase one further common share of Valdor at a price of $0.20 if exercised on or before June 23, 2017. A finder’s fee of 225,000 Units has been issued relative to this financing, in accordance with the policies of the TSX Venture Exchange. The 14,425,000 common shares issued are subject to a four month hold period expiring October 23, 2014. The warrants issued with the units will be subject to an acceleration provision. After four months have elapsed from closing, if Valdor’s shares trade above $0.60 for 20 consecutive trading days Valdor has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days. The proceeds from this private placement will be used for marketing of Niagara’s Streaming Media Products and Valdor’s line of fiber optic components, paying current liabilities and for general working capital. There are 33 placees, including Insiders:
- Ironstone Investments Inc. (Elston Johnston) 1,000,000
- Elston Johnston 750,000
- Alder Investments (1993) Ltd. (Brian Findlay) 750,000
- Ron Boyce 400,000
Valdor is a technology company with two divisions:
1) Valdor Fiber Optics, a fiber optic components company specializing in the design, manufacture and sale of fiber optic splitters, connectors, laser pigtails and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. The company specializes in harsh environment products and in particular splitters and connectors;
2) Niagara Streaming Media, a streaming video business that owns four patents and markets the Niagara and GoStream product lines. Streaming video is the future of television.
The Valdor business plan incorporates growth by acquisition. For further information on Valdor’s product lines please visit www.valdor.com.
On Behalf Of the Board of Directors of
VALDOR TECHNOLOGY INTERNATIONAL INC.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.