/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY, Jan. 11 /CNW/ - Valiant Minerals Ltd. ("Valiant") (TSXV/NEX:
VTM.H) is pleased to announce a non-brokered private placement of up to
500,000 common shares in the capital of the Corporation ("Common
Shares") at a price of $0.05 per Common Share for gross proceeds of
$25,000. Directors, officers and other insiders may participate for up
to 100% of this private placement.
The proceeds from the private placement will be used for general working
capital requirements. Closing of the private placement is expected to
occur by January 19, 2011, subject to the satisfaction of standard
conditions, including the receipt of all necessary regulatory and
Exchange approvals. The Common Shares issued pursuant to this private
placement will be subject to a four-month hold period and any Common
Shares issued to insiders will be subject to the applicable escrow
provisions of the Exchange.
The securities will not be registered with the U.S. 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.
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 private placement and
the anticipated use of the net proceeds therefrom, and management's
assessment of future plans and operations, expectations of future
production, cash flow and earnings.
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 failure to
obtain necessary regulatory approvals. There is also risk that the
closing of the private placement could be delayed if Valiant is not
able to obtain the necessary regulatory, stock exchange and any
applicable shareholder approvals on the timelines it has planned. The
private placement will not be completed at all if these approvals are
not obtained or any other conditions to the closings are not satisfied.
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
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
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.
SOURCE Valiant Minerals Ltd.
For further information:
Mr. Roderick MacDonald, President and Chief Operating Officer
Tel: (817) 771-1971