$925,000 NON-BROKERED PRIVATE PLACEMENT CLOSED
January 8, 2010 - Hayward, California
The Board of Directors of Valdor Technology International Inc. (“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, enclosures, laser pigtails and other optical and optoelectronic components using its proprietary and patented Impact Mount™ and HeptoPort™ technologies. The Impact Mount™ technology incorporated in the Valdor line of connectors is user friendly and environmentally friendly. This 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. Valdor holds several patents on its connector technology in strategic global regions.
On Behalf Of the Board of Directors
VALDOR TECHNOLOGY INTERNATIONAL INC.
Dr. Michel Rondeau
President & CEO
Corporate Office: Suite 450 - 789 West Pender Street, Vancouver B.C. Canada V6C 1H2 ph. (604) 687-3775
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.