Valterra to Amend Warrant Terms
Valterra to Amend Warrant Terms
Vancouver, British Columbia--(Newsfile Corp. - February 5, 2021) - Valterra Resource Corporation
(TSXV: VQA) (OTCQB: VRSCF) ("Valterra" and "the Company") reports that the Company has applied
to the TSX Venture Exchange (the "Exchange") for approval to amend the terms and reprice the
outstanding transferrable share purchase warrants ("the Warrants"), which Warrants were issued on
March 28, 2018 and April 23, 2018 in connection with a private placement. The original exercise price of
$0.50 per share (after consolidation) is to be reduced to $0.125 per share. The expiration date of the
Warrants will remain March 28, 2021 and April 23, 2021 respectively, subject to the accelerated
exercise period provision as set out below.
In order to reduce the exercise price of the Warrants, the Exchange requires that we include an
accelerated exercise period provision in the amended Warrants. The accelerated exercise period
provision will provide that, if the closing price of our shares is $0.165 or higher for 10 consecutive trading
days (the "Premium Trading Days"), Warrant holders will have 30 calendar days, commencing 7
calendar days after the last Premium Trading. The proposed amendments to the Warrants are subject to
acceptance for filing by the Exchange.
About Valterra
Valterra is a Manex Resource Group Company. The group provides expertise in exploration,
administration, and corporate development services for Valterra's mineral properties located in Brazil,
British Columbia and Mexico. Valterra's prime focus is on advancing its Brazilian properties, with a
secondary focus on its early stage properties that have the potential to host large deposits in regions
with excellent infrastructure. Upon acquisition of Pocone Mining Mineracao Ltda, Valterra will indirectly
hold a 100% interest in the
Lima
Gold Project and an option to acquire a 100% interest in the
Livramento
Gold Project, both located in Brazil.
Valterra also owns a 100% interest in the
Swift-Katie
copper gold porphyry property in British Columbia and has an option to earn a 100% interest in the
Los
Reyes
copper- gold property in Mexico.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/73790