Notice of Change of Auditor
December 31, 2014 - Vancouver, B.C.
Valdor Technology International Inc. ("Valdor") (TSX: VTI-V) (OTC: VTIFF) (Frankfurt: VZAA)
reports that notice has been given, pursuant to section 4.11 of National Instrument 51-102 - Continuous disclosure Obligations ("NI 51-102"), of a change of auditor of Valdor.
- (1) I. Vellmer Inc., Chartered Accountants, has resigned as auditor of Valdor, at the request of Valdor, effective November 18, 2014.
- (2) The Valdor Audit Committee has considered the resignation of I. Vellmer and has recommended that Crowe MacKay LLP be appointed to fill the vacancy in the office of auditor, until the next annual general shareholders meeting.
- (3) The Board of Directors of Valdor has considered the resignation of I. Vellmer, and the recommendation of the Audit Committee, and has appointed Crowe MacKay as auditor to hold office until the next annual general shareholders meeting.
- (4) There were no reservations in the I. Vellmer reports on the financial statements of Valdor for the two most recently completed financial years or for any period subsequent thereto for which an audit report was issued, and preceding the effective date of the resignation of I. Vellmer.
- (5) In the opinion of the Audit Committee, and the Board of Directors, there are no reportable events as defined in subparagraph 4.11(1) of NI 51-102.
In accordance with terms of the Valdor Stock Option Plan the Board of Directors has agreed to grant, to certain directors and officers, 4,200,000 incentive stock options with an exercise price of $0.10/share. These will expire in five years from date of grant.
Valdor is a technology company with two divisions:
1) Valdor Fiber Optics, a fiber optic components company specializing in the design, manufacture and sale of fiber optic splitters, connectors, laser pigtails and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. The company specializes in harsh environment products and in particular splitters and connectors and;
2) Niagara Streaming Media, a streaming video business that owns four patents and markets the Niagara and GoStream product lines. Streaming video is the future of television.
The Valdor business plan incorporates growth by acquisition. For further information on Valdor's product lines please visit www.valdor.com.
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.
Twitter: twitter.com/ValdorTechInt
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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.