Valterra Financing Expanded to Include Investments Through an Investment Dealer
December 7, 2016
Valterra Resource Corporation (the “Company” or “Valterra”) reported today that it has expanded its previously announced non-brokered private placement (the “Financing”) to provide for investments through an Investment Dealer in the jurisdictions in Canada where this exemption applies. The Financing consists of 10,000,000 flow-through units (“Units”) at a price of Cdn$0.05 per Unit, for maximum gross proceeds of Cdn$500,000 (the “Maximum Offering”). The Company plans to issue at least a minimum of 4,000,000 Units for gross proceeds of Cdn$200,000 (the “Minimum Offering”). Each Unit will consist of one common share and one half non-flow-through warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.10 for a period of five years from the closing date.
Proceeds under both the Maximum Offering and Minimum Offering will be used to fund costs associated with additional exploration/drilling on Valterra’s 100% owned porphyry/shear-hosted copper-gold-silver Swift Katie Project in southeastern British Columbia near Salmo. The initial exploration program, now completed, consisted of up to 1500 metres of drilling in four to five core holes and targeted offsets of high-grade gold intercepts from the 2014 drilling on the property which returned a 3.5m interval averaging 13.3g/t gold, 201g/t silver and 0.33% copper in hole SK14-002. This gold-enriched mineralization was returned from a sulphide rich shear approximately 165 metres below surface and is open in all directions. Drilling tested both up dip and along strike of this high-grade intercept in order better define the orientation of the mineralization and geological setting.
The shares and warrants issued pursuant to the Financing will be subject to a hold period expiring four months and one day from the date of distribution of the Units. There are no undisclosed material facts or material changes respecting Valterra.
No Registration in the United States
The securities described above have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or person in the United States, unless an exemption from such registration requirements is available. Certain shareholders in the United States will be permitted to participate in the Offering upon verification by the Company that such shareholders are accredited investors (as defined in Regulation D of the Securities Act).
Robert Macdonald, MSc. P.Geo., is the non-independent Qualified Person for Valterra Resource Corporation responsible for reviewing and approving the technical content presented in this release.
On behalf of the Board of Directors,
Lawrence Page Q.C., 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.
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.