$2,000,000 Non-Brokered Private Placement
May 24, 2013 - Hayward, California
The Board of Directors of Valdor Technology International Inc. ("Valdor") (TSX: VTI-V) is pleased to report that a non-brokered private placement has been arranged for 20,000,000 Units at a price of $0.10 per Unit. Each Unit is comprised of one common share of Valdor and one non-transferable share purchase warrant. This private placement supplants the one announced on January 7, 2013 which Valdor elected not to complete. Each warrant will allow the holder thereof to purchase one additional common share of Valdor at a price of $0.20 per share for a period of three years from the date of closing of the private placement. The 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. A finder’s fee may be paid relative to this private placement, pursuant to the policies of the TSX Venture Exchange. The proceeds from this private placement will be used for marketing of Valdor’s fiber optic products and for general working capital and current payables.
About 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. Signal transmission in its many and various forms is being converted from electrical to fiber optics. A comprehensive global report on the fiber optics components market projects that it will reach US$42 billion by the year 2017.
About 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, and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. Valdor specializes in harsh environment products and in particular splitters and connectors. Valdor's business plan incorporates growth by acquisition. For information on Valdor's product lines please visit www.valdor.com.
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On Behalf Of the Board of Directors of
VALDOR TECHNOLOGY INTERNATIONAL INC.
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.