Fiber Optics Company Valdor Receives Request For Quote From North American and Latin American Telecoms
March 17, 2016 – Vancouver, B.C.Valdor Technology International Inc. (“Valdor”) (TSX: VTI-V) (OTC: VTIFF) (Frankfurt: VZAA) is pleased to report that Valdor has received requests for quote (RFQ’s) from telecoms in both North America and Latin America.
Valdor has recently submitted a response to one RFQ, valued at more than Cdn $15 million, originating from a North American telecom, and will be submitting a response to a second RFQ valued at about Cdn $15 million, originating from a Latin American telecom. Valdor is in negotiations with several North American and Latin American telecoms on five other significant optical fibre projects.
Niagara Video Corp., located in California, USA, has purchased Niagara Streaming Media from Valdor. The sale price is Cdn $600,000 plus Valdor will retain a 1% royalty for two years and an ongoing 20% interest in Niagara Video Corp. Final payments are scheduled to be received by Valdor during the course of the year 2016. The funds from the sale are being used by Valdor to cover payables and to purchase raw material and inventory for Valdor’s fibre optics opportunities in North America and Latin America.
Mr. Elston Johnston, Chairman, states: “A very capable group, with a strong background in streaming media, and capability to expand the streaming media business footprint, has bought Niagara Streaming Media. As a 20% shareholder in the new company we are partners with them and we anticipate mutual referrals of business. The sale of Niagara will allow Valdor to focus its financial resources, managerial resources and marketing efforts on its core business and the incipient demand for the fibre-to-the-premises roll-out. The fiber-to-the-premises roll-out is now in the early construction phase, as is evident from the increase in RFQ’s we’ve been receiving this year.”