$2,017,500 Non - Brokered Private Placement Closed
Hayward, California - July 8, 2013: 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 Valdor Technology International Inc. 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(TM) technology. Valdor's Impact Mount(TM) technology is all-mechanical with no epoxy or matching gel. Valdor specializes in harsh environment products and in particular splitters and connectors.
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.
For more information on Valdor's product lines please visit www.valdortech.com. Posted by djk on :
NEWS Telco Evaluates Product
Valdor Technology Fiber Optic Components
SECOND CANADIAN TELECOM EVALUATING VALDOR SPLITTER
Vancouver, B.C. – November 6, 2013: Valdor Technology International Inc. (“Valdor”) (TSX-V: VTI) (OTC:VTIFF) is pleased to report that Valdor’s operating subsidiary, Valdor Fiber Optics, Inc., has delivered a Valdor harsh environment fibre optic splitter to a second Canadian telecom company. This sample device will be evaluated by this telecom to determine if it is a solution for their on-going splitter problems.
Mr. Ron Boyce, VP Sales & Marketing/Director, states: “Our confidence in our technology is now beginning to bear fruit with a second Canadian telecom now evaluating our harsh environment splitters. Reliability and quality are the most important pre-requisites for the Canadian telecoms and Valdor’s harsh environment products have proven that they can meet and exceed their technical requirements.”
There are ten regional and national telecoms in Canada; ranging from the government owned SaskTel to the national and publically owned Bell Canada. Currently, the telecom FTTx market accounts for about 80% of global fibre optic expenditures. In North America fibre-to-the-home is at only 5% penetration. For the vendor, the telecom market is a difficult one to penetrate due to its extensive requirements for high quality products and services. It is estimated that the telecom market for passive and active FTTx products, for Canada only, will be in excess of $300 million/year, for at least the next five years. The telecom FTTx market is much larger in the USA.
For medical reasons, Mr. Ralph Kettell has resigned as a Director and Officer of Valdor. The Valdor Board and Management thank him for his many years of support and assistance and wish him the best of health in the near future. He will continue to provide services and support.
About the Fibre Optics Industry: Fibre optics is the future of communications. The signal transmission business is in the early stages of a fibre optics bull market. All signal transmission, in their many and various forms, are being converted from electrical to fibre optics. A comprehensive global report on the fibre 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 fibre optic components company specializing in the design and manufacture of fibre 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. The Valdor business plan incorporates growth by acquisition.