VALIANT MINERALS LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
15 April 2011 - 5:34AM
PR Newswire (Canada)
CALGARY, April 14 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ CALGARY, April
14 /CNW/ - Valiant Minerals Ltd. ("Valiant") (TSXV/NEX: VTM.H) is
pleased to announce the closing of the previously announced private
placement of common shares ("Common Shares"). The closing of the
private placement comprised 8,000,000 Common Shares at a price of
$0.05 per Common Share for gross proceeds of $400,000. Directors,
officers and other insiders participated for approximately 6% of
the private placement. The securities issued in connection with the
private placement are subject to a four month hold period and those
issued to directors are subject to the escrow provisions of the
Exchange. The proceeds from this private placement will be
used for general working capital requirements. The securities
will not be registered with the US Securities and Exchange
Commission and may not be offered or sold within the United States
without registration or an applicable exemption from the
registration requirements of the United States Securities Act of
1933 and any applicable state securities laws. At the closing of
the private placement, Valiant Minerals Ltd. has 11,800,000 Common
Shares outstanding. Forward-looking Statements This press release
contains forward-looking statements. Any statements that are
contained in this press release that are not statements of
historical fact may be considered forward-looking statements.
Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expects" and similar
expressions. Forward looking statements in this press release
include, but are not limited to statements concerning the
anticipated use of the net proceeds from the private placement, and
management's assessment of future plans and operations.
Although Valiant believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should
not be placed on them because Valiant can give no assurance that
they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. These forward-looking
statements are based on current expectations that involve a number
of risks and uncertainties, which could cause actual results to
differ materially from those anticipated. These risks include, but
are not limited to the private placement receiving final approval
from the TSX Venture Exchange, to which it is subject. The intended
use of the net proceeds of the offering by Valiant might change if
the board of directors of Valiant, determines that it would be in
the best interests of Valiant to deploy the proceeds for some other
purpose. Readers are cautioned that the foregoing list of factors
is not exhaustive. Additional information on these and other
factors that could affect Valiant's operations and/or financial
results are included in Valiant's reports on file with Canadian
securities regulatory authorities. Readers are cautioned not to
place undue reliance on forward-looking statements as there can be
no assurance that the plans, intentions or expectations upon which
they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are
made as of the date hereof and Valiant undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT
FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES DESCRIBED
HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND
WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM. 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. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/14/c4285.html
p Mr. Roderick MacDonald, President and Chief Operating Officerbr/
Tel: (817) 771-1971br/ a
href="mailto:rmacdonald@hughes.net"rmacdonald@hughes.net/a /p
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