Business
$2,017,500 Non - Brokered Private Placement Closed
(via Thenewswire.ca) Hayward, California - July 8, 2013: The Board of Directors of Va...
About this update from Valdor Technology International Inc
[{"type":"text","content":"$2,017,500 Non - Brokered Private Placement Closed(via Thenewswire.ca)\n \n \nHayward, California - July 8, 2013: The Board of Directors of Valdor Technology International Inc. (\"Valdor\") (TSX: VTI-V) is pleased to report that the non-brokered Private Placement announced May 24, 2013 has now closed. A total of 20,175,000 Units at a price of $0.10 per unit have been purchased with total proceeds realized of $2,017,500. 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 10, 2016. A finder's fee of 699,000 Units has been issued relative to this financing, in accordance with the policies of the TSX Venture Exchange. The 20,874,000 common shares issued are subject to a four month hold period expiring October 10, 2013. \n\n \n \nThe 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 $0.40 for 20 consecutive trading days Valdor has the option to provide notice to the warrant holders that one half of their warrants will expire if they are not exercised within 30 days. If Valdor's shares trade above $0.50 for 20 consecutive trading days Valdor has the option to provide notice to the warrant holders that their remaining warrants will expire if they are not exercised within 30 days.\n\n \n \nThe proceeds from this private placement will be used for marketing Valdor's fiber optic products and for general working capital and current payables.\n\n \n \nSeven insiders purchased 5,325,000 units (26%) of this financing.\n\n\n \nAbout the Fiber Optics Industry: Fiber optics is the future of communications. The signal transmission business is in the early stages of a fiber optics bull market. All signal transmission, in their many and various forms, are being converted from electrical to fiber optics. A comprehensive global report on the fiber optic components market projects that it will reach US$42 billion by the year 2017. \n\n\n \nAbout Valdor Technology International Inc. (www.valdortech.com): Valdor is a high technology fiber optic components company specializing in the design and manufacture of fiber optic connectors, laser pigtails, splitters, an...