Valterra Closes First Tranche of Private Placement
Vancouver, August 2, 2019 - Valterra Resource Corp. (TSXV: VQA) (OTCQB: VRSCF) ("Valterra" or the "Company") has closed the first tranche of its previously reported private placement by issuing 3,900,000 units at a price of $0.025 per unit for gross proceeds of $97,500. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of four years at an exercise price of $0.05 per common share. Securities issued pursuant to this tranche of the private placement, including common shares and share purchase warrants, carry a legend restricting trading of the securities until December 2, 2019. Finders' fees and commissions may be paid by the Company in relation to the units sold in this tranche. 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.
Net proceeds from the private placement may be used in part to fund costs associated with initial exploration programs for the Weepah Gold project in Nevada and the Los Reyes Au-Cu project, Mexico. Additionally, net proceeds will also be used for general working capital which includes: G&A, property maintenance and property option payments for all of the company's projects.
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 properties located in British Columbia, Nevada and Mexico. 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 Corp.
For further information, please visit Valterra's website at valterraresource.com or contact Valterra at 604.641.2759 or by email at ir@mnxltd.com.
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 Corp.'s projects, and the availability of financing for Valterra Resource Corp.'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 Corp. 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 is not intended for distribution to United States newswire services or dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46700
