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 Private Placements
Valterra Resource Corp announced that it plans to issue up to 7,000,000 units in a non-flow-through private placement at a price of $0.06 per unit for gross proceeds of $420,000. Each unit consists of one common share and one share purchase warrant, with each whole share purchase warrant exercisable to purchase one additional common share at an exercise price of $0.10 for a period of three years. Valterra also announces a flow-through private placement of up to 7,000,000 flow-through shares to Canadian resident investors, with each flow-through share priced at $0.07 to raise gross proceeds of $490,000 with the gross proceeds utilized for Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), related to the exploration during 2013 of Valterra's +160 sq. km Bobcaygeon graphite project in southern Ontario and other eligible exploration expenses, with expense renunciations on December 31, 2013. Proceeds from the private placements will be utilized for eligible Canadian exploration expenses incurred on the Bobcaygeon Graphite Property located in Southern Ontario. Recent exploration has generated several high-grade, high-purity, flake graphite drill targets from prospecting, shallow trenching and ground geophysics programs.
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