09:56:45 EDT Fri 19 Apr 2024
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or Name
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Valterra Resource Corp (2)
Symbol VQA
Shares Issued 71,742,487
Close 2018-04-24 C$ 0.025
Market Cap C$ 1,793,562
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Valterra Resource closes final tranche of financing

2018-04-24 10:43 ET - News Release

Mr. Lawrence Page reports

VALTERRA CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT

Valterra Resource Corp. has closed the final tranche of its previously reported private placement by issuing 3.45 million units at a price of three cents per unit for gross proceeds of $103,500. In total, the company has now closed 11,203,667 units in two tranches for total gross proceeds of $336,110. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of five cents per common share. Securities issued pursuant to the final tranche of the private placement, including common shares and share purchase warrants, carry a legend restricting trading of the securities until Aug. 24, 2018. The final closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Finders' fees and commissions may be paid by Valterra in relation to this issuance.

Net proceeds from the private placement will be used to finance costs associated with property maintenance costs for the Swift Katie project, corporate sustaining costs payable to third party service providers and for working capital.

About Valterra Resource Corp.

Valterra is a Manex Resource Group company. The group provides expertise in exploration, administration and corporate development services for Valterra's mineral property located in British Columbia. Valterra is focused on early-stage properties with the potential to host large deposits, in regions with excellent infrastructure.

We seek Safe Harbor.

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