Valdor Technology International Inc.: $1,383,600 Non - Brokered Private Placement Closed (tnw)
Hayward, California - December 4, 2012: The Board of Directors of Valdor Technology International Inc. ("Valdor") (TSX: VTI-V) is pleased to report that the non-brokered Private Placement announced September 12, 2012 has now closed. A total of 13,836,000 Units at a price of $0.10 per unit have been purchased with total proceeds realized of $1,383,600. 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 November 22, 2015. The 13,386,000 common shares issued are subject to a four month hold period expiring March 22, 2013. A finder's fee of 391,000 Units and $25,000 will be paid relative to this financing.
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 the private placement will be used for marketing of Valdor's fiber optic products and for general working capital.
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 their many and various forms, are being converted from electrical to fiber optics. A comprehensive global report on the fiber optic 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, and other optical and optoelectronic components some that use the Valdor proprietary and patented Impact Mount(TM) and HeptoPort technologies. Valdor's Impact Mount(TM) technology is all-mechanical with no epoxy or matching gel. Valdor's patented IMT field installable termination kits and connectors are ideal for harsh environment applications and quick repair in the field.
For information on Valdor's products please visit www.valdor.com
ON BEHALF OF THE BOARD OF DIRECTORS
OF VALDOR TECHNOLOGY INTERNATIONAL INC.
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for the adequacy or accuracy of this news release.
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