Business
Valdor Technology International Announces $430,000 Non Brokered Private Placement Closed 
Valdor Technology International Announces $430,000 Non Brokered Private Placement Closed 
About this update from Valdor Technology International Inc
[{"type":"text","content":"\nValdor Technology International Announces $430,000 Non Brokered Private Placement Closed \n\n\n May 29, 2009 (TheNewswire.ca) -- Hayward, California - May 29, 2009 The Board of Directors of Valdor Technology International (OOTC:TCNI) (OOTC:VTIFF) (TSXV:VTI) Inc. (\"Valdor\")(TSX: VTI-V) is pleased to report that the non-brokered Private Placement announced April 22, 2009 for 4,300,000 Units, has now closed. A total of 4,300,000 Units at a price of $0.10 per unit have been purchased with total proceeds realized of $430,000. 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 $0.125 if exercised on or before April 29, 2011. The 4,300,000 common shares issued are subject to a hold period expiring August 31, 2009. A finder's fee of $2,500 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 $0.80 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 daysThe proceeds of the private placement will be used for marketing of Valdor's new line of fiber optic products and for general working capital.Valdor, established in 1985, is a high technology company specializing in the design and manufacture of fiber optic connectors, ferrules, splices, DWDM's and other optical and optoelectronic components using its propriety and patented IMPACT MOUNTTM and HeptoportTM technology.For additional information, please contact:Valdor Fiber Optics Inc.Dr. Michel RondeauPresident & Chief Executive Officerwww.valdortech.comCopyright (c) 2009 Thenewswire.ca - All rights reserved.\n\n\n\n","length":2045,"tagName":"div"}]