Valorem Announces Closing of First Tranche of Non-Brokered Private Placement
News Release
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
VALOREM ANNOUNCES CLOSING OF FIRST TRANCHE
OF NON-BROKERED PRIVATE PLACEMENT
September 2, 2022
VALOREM RESOURCES INC. (CSE:VALU) (Frankfurt: 1XW1) (the “Company”) is pleased to
announce that, further to its news release dated August 30, 2022, it has closed a first tranche of
its private placement financing consisting of up to 15,625,000 units (each, a “ Unit”) at a price of
$0.16 per Unit for gross proceeds of up to $2,500,000 (the “ Offering”), pursuant to which it sold
an aggregate of 2,887,500 Unit at a price of $0.16 per Unit for gross proceeds of $462,000
(the “First Tranche ”). The Company intends on completing a second tranche of the Offering
within the next thirty (30) days.
Each Unit consists of one common share of the Company (each, a “ Share”) and one non-
transferable share purchase warrant (each, a “ Warrant”). Each Warrant entitles the holder
thereof to purchase one a dditional Share (each, a “ Warrant Share ”) in the capital of the
Company of the Company at a price of $0.21 per Warrant Share for a period of two years from
closing of the First Tranche.
The Company paid $2,500 cash finder’s fee to one eligible finder in conn ection with the closing
of the First Tranche in accordance with applicable securities laws.
Proceeds from the Offering will be used for gene ral working capital and to clean up the balance
sheet of the Company.
The securities issued under the First Tranche, and th e shares that may be i ssuable on exercise of
the Warrants, are subject to a statutory hold period expiring on January 3, 2023.
None of the securities issued in the Offering have been, and none of them will be registered
under the United States Securities Act of 1933 , as amended (the “ U.S. Securities Act ”) or any
state securities laws and may not be offered or sold within the United Stat es or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
About Valorem Resources Inc.
Valorem explores and develops precious metal properties in the Americas.
For further details and maps, please see: https://valoremresources.com/
On behalf of the Board of Directors,
Tony Louie, Interim CEO and Director
Email: [email protected]
Office: 888.795.6268
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statemen ts and forward-looking information (collectively, “ forward-
looking statements”) within the meaning of applicable Canadian le gislation. All statements in this news release
that are not purely historical are forward-looking statem ents and include statements regarding beliefs, plans,
expectations and orientations regarding the future including, without limitation, the anticipated use of proceeds of
the Initial Tranche and the closing of a second tranche of the Offering within the next thirty (30) days. Although the
Company believes that such statements are reasonable and reflect expectations of fu ture developments and other
factors which management believes to be reasonable and relevant, the Company can give no assurance that such
expectations will prove to be correc t. Forward-looking statements invo lve many known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of the Company to
differ materially from any future results, performance or achievements expressed or implied by the forward-looking
information. Such risks and other fact ors include the inability of the Compan y to execute its proposed business
plans, and carry out planned future activities, including, but not limited to, those relating to the Company’s ability
to close additional tranches of the Offering. Other factors may also adversely affect the future results or performance
of the Company, including general economic, market or business conditions, future prices of gold or other precious
metals, changes in the financial markets and in the demand for gold or other precious metals, changes in laws,
regulations and policies affecting the mineral exploration industry, and risks related to the Company’s investments
and operations in the mineral exploration sector, as well as the risks and uncertainties which are more fully
described in the Company’s annual and quarterly management’s discussion and analysis and other filings made by
the Company with Canadian securities regulatory authorities under the Comp any’s profile at www.sedar.com. The
ongoing dispute between the sovereign state of Ukraine an d Russia also poses risks that are currently indescribable
and immeasurable. Readers are cautioned that forward-look ing statements are not guarantees of future performance
or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the
inherent uncertainty of such statements . These forward-looking statements are made as of the date of this news
release and, unless required by applicable law, the Compan y assumes no obligation to update these forward-looking
statements.
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the
policies of the CSE accepts responsibility for the adequacy or accuracy of this release.