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.”
Valdor is a technology company with three divisions:
1) Niagara Streaming Media, headquartered in Dallas, Texas, is an industry pioneer and global leader in the encoder hardware and software market. Niagara has numerous clients, including international television broadcasters and offices of the US Government. Thousands of Niagara systems have been deployed worldwide through its network of several hundred distributors and value added resellers. Niagara owns four patents and designs, manufactures and sells the Niagara and GoStream product lines. Streaming media encoders are the physical devices that are enabling streaming media to become the future of television and internet communications;
2) Valdor Fiber Optics, headquartered in San Francisco, California, is an optical fiber components company specializing in the design, manufacture and sale of passive fiber optic components, including some that use Valdor proprietary and patented technologies. Valdor is focused on harsh environment products for the roll-out of fibre-to-the-home in North America with a unique and compelling splitter design. Valdor has numerous clients and the Valdor splitters are installed in the optical fibre networks of Canadian telecoms. Fiber-to-the-home hard wiring will enable the bandwidth for television and internet communications of the future;
3)TeleVal, headquartered in Mexico City, Mexico, is an optical fiber components company specializing in the design, manufacture and sale of passive fiber optic components. TeleVal is focused on the deregulation of the telecom sector in Mexico and the roll-out of fibre-to-the-home in Latin America. TeleVal’s parent companies have numerous clients throughout North America and Latin America. Fiber-to-the-home hard wiring will enable the bandwidth for television and internet communications of the future.
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.