Valterra Resource Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Valterra Resource Corp Announces Financing
Valterra Resource Corp announced that it plans to issue up to 4,000,000 units in a non-flow-through private placement at a price of $0.15 per unit for gross proceeds of $600,000. Each unit consists of one common share and one share purchase warrant, with each share purchase warrant exercisable to purchase one additional common share at an exercise price of $0.20 for a period of 2 years. Valterra also announces a flow-through private placement of up to 4,000,000 flow-through shares to Canadian resident investors, each flow-through share priced at $0.15 to raise gross proceeds of a maximum of $600,000 with the gross proceeds utilized for Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), related to the exploration during 2012-2013 of Valterra's Star-Toughnut project in British Columbia and other eligible exploration expenses, with expense renunciations on December 31, 2012. Proceeds from the private placements will be used to fund planned drill programs on Valterra's mineral exploration projects in south-eastern British Columbia and for working capital.
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