Valterra Closes First Tranche of Private Placements
December 30, 2009
Valterra Resource Corporation reported that the company has closed a first tranche of the two previously announced (December 14, 2009) non-brokered private placements for gross proceeds of C$583,000, including participation by MineralFields Group.
Each “flow-through unit” issued in the first tranche was priced at $0.08 per flow-through unit and consisted of one flow-through common share and one-half of one share purchase warrant, with each whole warrant exercisable to purchase one additional non flow-through common share at an exercise price of $0.15 per share for a period of two years. The first tranche of this private placement consisted of 6,975,000 units for gross proceeds of $558,000.
Non Flow-Through Unit
Each “non flow-through unit” issued in the first tranche was priced at $0.08 per non flow-through unit and consisted of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of $0.10 per share for a period of two years. The first tranche of this private placement consisted of 312,500 units for gross proceeds of $25,000.
All securities issued pursuant to these two private placements, including common shares, share purchase warrants, finders’ warrants and finders’ options issued as finders’ fees, carry a legend restricting trading of the securities until April 24, 2010. The private placements and any finders’ fees may be subject to regulatory approval.
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 valterraresource.com or contact Jeff Stuart or Ran Davidson at either 1.888.456.1112 or 604.641.2771 or by email at email@example.com.
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been prepared by management.
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.