$2,017,500 Non-Brokered Private Placement Closed
July 8, 2013 - 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 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.
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.
The proceeds from this private placement will be used for marketing Valdor’s fiber optic products and for general working capital and current payables.
Seven insiders purchased 5,325,000 units (26%) of this financing.
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. All signal transmission, in thier many and various forms, are 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.