Valterra Extends Private Placement
August 13, 2014 (Source: Marketwired) — NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Valterra Resource Corporation (the “Company” or “Valterra”) (TSX VENTURE:VQA)(FRANKFURT:3VA) announces that it has extended its previously announced non-brokered private placement to August 21, 2014. The private placement consists of up to 8,000,000 units at a price of $0.05 per unit to raise gross proceeds of $400,000. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of $0.05 for a period of 3 years. The Company closed a first tranche of the financing in July by issuing 1,000,000 units for gross proceeds of $50,000. The private placement is subject to TSX Venture Exchange acceptance.
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Proceeds from the private placement will be used for property payments, general working capital and for exploration expenses incurred on the Bobcaygeon Graphite Property located in the Grenville Graphite Trend in southeast Ontario. The Company is planning for a multi-faceted exploration program which includes further drill testing, surface trenching and sampling toward the development of a preliminary mineral resource on the property.
On behalf of the Board of Directors,
Lawrence Page, QC, President, Valterra Resource Corporation
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation’s projects, and the availability of financing for Valterra Resource Corporation’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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