Valdor Technology arranges $1.45-million financing

2013-01-07 13:20 ET - News Release

An anonymous director reports

$1,450,000 NON-BROKERED PRIVATE PLACEMENT

The board of directors of Valdor Technology International Inc. has arranged a non-brokered private placement for 14.5 million units at a price of 10 cents per unit. Each unit comprises one common share of Valdor and one non-transferable share purchase warrant. Each warrant will allow the holder thereof to purchase one additional common share of Valdor at a price of 20 cents 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 40 cents for 20 consecutive trading days, Valdor has the option to provide notice to the warrantholders that one-half of their warrants will expire if they are not exercised within 30 days. If Valdor's shares trade above 50 cents for 20 consecutive trading days, Valdor has the option to provide notice to the warrantholders that their remaining warrants will expire if they are not exercised within 30 days. A finder's fee will be paid relative to this private placement in accordance with the policies of the TSX Venture Exchange. The proceeds from the private placement will be used for marketing of Valdor's fibre optic products and for general working capital.