Valor Inc. Announces Closing of First Tranche of Private Placement and Further Corporate Updates

0

The Company also confirms that neither Valor Asset Management nor any of its ETP products have any direct exposure or affiliation with FTX, FTT or Alameda Research.

TORONTO, November 14, 2022 /PRNewswire/ – Valor Inc. (the “Company” Where “Value“) (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF), a technology company that bridges traditional capital markets and decentralized finance, is pleased to announce that following its press release from October 11, 2022it closed the first tranche of its financing by private placement without an intermediary (the “Private placement“) units (“Units“) for the gross product of $1,414,973 by the sale of 7,074,865 Units at the price of CA$0.20 per unit (the “First installment“). Each unit consists of one common share of the Company and one-half common share purchase warrant (each whole warrant, one “To guarantee“), entitling the holder of a warrant to acquire one additional common share of Valor (a “Ordinary share“) at an exercise price of $0.30 for a period of 24 months from its issue.

A director of the Company purchased a total of 2,500,000 units under the private placement. The issuance of Units to this insider is considered a related party transaction under the NEO Listing Manual and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“IM 61-101The Company has relied on the exemptions from the formal valuation and minority approval requirements set forth in sections 5.5(a) and 5.7(a) of NI 61-101, respectively, with respect to this insider participation. Further details will be provided in the material change report relating to the private placement to be filed on SEDAR. The Company has not filed a material change report with respect to the related party transaction unless 21 days before the closing of the private placement, which the Company deems reasonable in the circumstances in order to be able to quickly avail itself of the proceeds of the Private Placement.

As part of the closing of the First Tranche, the Company paid intermediaries a total of $7,499.73 cash commission and issued to finders a total of 187,493 broker warrants (“Brokerage vouchers“) of the Company. Each brokerage warrant entitles its holder to acquire one ordinary share at the price of $0.30 for a period of two years from the date of issue. Valor intends to use the proceeds from the first tranche for general corporate purposes.

The Company expects the closing of a second tranche to occur on or about November 21, 2022. All securities issued under the Private Placement will be subject to a statutory hold period of four months and one day. Completion of the Private Placement is subject to a number of conditions, including, without limitation, receipt of NEO Exchange’s approval.

Valor Asset Management and FTX

With respect to FTX’s liquidity situation, Valor Asset Management confirms to its investors that neither Valor nor any of its ETP products have any direct exposure or affiliation with FTX, FTT or Alameda Research.

The Company has a balance of approximately $49.953 of various venture capital portfolio tokens on FTX.com which are subject to release conditions and can be sold after their specified escrow periods have expired.

The security and safety of investors’ funds will always remain the Company’s top priority.

Corporate update

The Company also announces the resignation of Bernard Wilson as a director of the Company. The Corporation’s management and Board of Directors would like to thank Mr. Wilson for his service and continued support to the Corporation.

About Valor

Valor Inc. is a technology company that bridges the gap between traditional capital markets and decentralized finance. Our mission is to expand investors’ access to cutting-edge decentralized technologies that we believe are central to the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas for innovation and build and invest in new technologies and businesses to provide trusted and diverse exposure across the decentralized finance ecosystem. For more information or to sign up to receive company updates and financial information, visit https://valor.com

Caution Regarding Forward-Looking Information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to: the closing of additional tranches of the private placement; tokens in its venture capital portfolio; the regulatory environment regarding the growth and adoption of decentralized finance; the pursuit by Valor and its subsidiaries of business opportunities; and the potential merits or returns of such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, are materially different from those expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, but are not limited to, the acceptance of Valor exchange-traded products by stock exchanges; growth and development of DeFi and cryptocurrency sector; rules and regulations regarding DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

SOURCE Value, Inc.

Share.

Comments are closed.