Valterra Closes Oversubscribed Private Placement
Valterra Closes Oversubscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2018) -
Valterra Resource Corporation (TSXV: VQA) (OTCQB:
VRSCF) ("Valterra"
or the "Company"
)
has closed the final tranche of its previously reported private placement by issuing
3,450,000 units at a price of $0.03 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 $0.05 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 August 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 fund 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 Corporation
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.
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On behalf of the Board of Directors,
"Lawrence Page"
Lawrence Page Q.C., President, Valterra Resource Corporation
For further information, please visit Valterra's website at
valterraresource.com
or contact Valterra at 604.641.2759 or by email at
.
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.