Business
$925,000 NON - BROKERED PRIVATE PLACEMENT CLOSED
$925,000 NON - BROKERED PRIVATE PLACEMENT CLOSED
About this update from Valdor Technology International Inc
[{"type":"text","content":"\n$925,000 NON - BROKERED PRIVATE PLACEMENT CLOSED\n\n\n Jan. 7, 2010 (TheNewswire.ca) -- Hayward, California - January 7, 2010 The Board of Directors of Valdor Technology International (OOTC:TCNI) Inc. (OOTC:VTIFF) (TSXV:VTI) (\"Valdor\")(TSX: VTI-V) is pleased to report that the non-brokered Private Placement announced November 17, 2009 for 3,700,000 Units, has now closed. A total of 3,700,000 Units at a price of $0.25 per unit have been purchased with total proceeds realized of $925,000. Each Unit consists of one common share of Valdor and one non-transferable two year share purchase warrant. Each warrant allows the holder thereof to purchase one further common share of Valdor at a price of $0.35 if exercised on or before December 1, 2011. The 3,700,000 common shares issued are subject to a four month hold period expiring April 5, 2010. A finder's fee of $7,000 was paid.The warrants issued with the units sold are subject to an acceleration provision. After four months have elapsed from closing, if Valdor's shares trade above $1.10 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 of the private placement will be used for marketing of Valdor's new line of fiber optic products and for general working capital.About Valdor Technology International Inc.: (www.valdortech.com)Valdor is a high technology fiber optic components company specializing in the design and manufacture of new generation fiber optic connectors, laser pigtails and other optical and optoelectronic components using its proprietary patented Impact Mount™ and HeptoPort™ technologies.The Valdor line of connectors incorporates the user friendly and environmentally friendly Impact Mount™ technology. Valdor's patented Impact Mount™ technology is all-mechanical with no epoxy or index matching gel required. The Impact Mount™ technology field installable termination kits and connectors are ideal for harsh environment applications and quick repair in the field. Please visit www.valdor.com for complete information on Valdor's product line and other standard passive components including multiplexers, couplers, attenuators, patch cords and cable assemblies.ON BEHALF OF THE BOARD OF DIRECTORS OFValdor Technology I...