Valterra Closes Second Tranche of Non Flow-Through Private Placement And Announces Flow-Through Private Placement
July 20, 2009
Non Flow-Through Private Placement
Valterra Resource Corporation (the “Company”) reported that it has closed the second tranche of the previously announced non-brokered non flow-through unit private placement. Each “non flow-through unit” issued in the second tranche consists of one common share priced at C$0.09 per share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of C$0.15 per share for a period of two years. The second tranche of this private placement consisted of 1,756,950 units for gross proceeds of C$158,126.
All securities issued pursuant to this second tranche closing, including common shares, share purchase warrants and finders’ warrants issued as finders’ fees, carry a legend restricting trading of the securities until November 18, 2009.
Flow-Through Private Placement
The Company reported today that it plans to issue up to 1.1 million common shares in a non-brokered flow-through unit private placement at a price of C$0.11 per unit to raise C$121,000. Each unit will consist of one flow-through common share and one-half share purchase warrant, with each whole warrant exercisable to purchase one additional non flow-through common share at an exercise price of C$0.15 per share for a period of two years.
Finder’s fees may be payable on both private placements. The private placements and any finders’ fees may be subject to regulatory approval. The proceeds from the private placements are for working capital and the advancement of the Company’s projects in SE British Columbia.
On behalf of the Board of Directors,
“Lawrence Page, Q.C.”
Lawrence Page, Q.C., President, Director, Valterra Resource Corporation
For further information, please visit the Company’s website at www.valterraresource.com or contact Jay Oness at either 1.888.456.1112 or 604.641.2771 or by email at email@example.com.
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. Valterra Resource Corporation relies upon litigation protection for forward looking statements.