Valdor Signs Letter of Intent for Mexican Joint Venture
August 25, 2014 - Vancouver, B.C.
Valdor Technology International Inc. ("Valdor") (TSX: VTI-V) (OTC: VTIFF) is pleased to report that a Letter of Intent for a joint venture partnership has been signed with Inteligencia e Infraestructura En America S. A. ("Inteligencia"). Inteligencia, located in Mexico City, markets, services and installs electrical equipment and fibre optic cable, to the telecommunications industry, throughout Mexico.
The objective of this proposed joint venture is for Valdor to become a leader in the Mexican fibre optic technology market and in telecommunications customer acquisition. The imminent deregulation of Mexico's telecommunication industry will be a catalyst for this process. The Mexican telecommunications market is $35 billion/year and growing. (Please see the study by the "Cooperation Organization for Economic Development" on the Mexican telecommunications industry & Mexican Government website "Instituto Federal de Telecomunicaciones".) (www.ift.org.mx/iftweb) Fibre-to-the-home deployment in Mexico is at a very early stage.
It is proposed that Valdor will provide quality control practices and procedures, component procurement, operational procedures, technical transfer and training. It is proposed that Inteligencia will provide the engineering and assembly employees, sales and marketing employees, executive leadership, and the physical facilities in Mexico.
Valdor and Inteligencia will each provide 50% of the investment capital and share equally in the profits. To satisfy the Mexican requirement for local content, the joint venture will ultimately, but not immediately, establish a manufacturing facility within Mexico. The joint venture will initially supply and ultimately manufacture passive optical components including a full range of optical connectors, assemblies, patch panels and integrated optical solutions. Mr. Toledo has tendered his resignation as a Valdor Director; this will allow him more flexibility in securing business opportunities for Valdor throughout Latin America. The joint venture partnership will be structured to provide triple play (voice, data & multi-media) solutions for the FTTx and streaming video market sectors; the content focus will be health care, security and education.
Valdor has received a third set of comments from the US Securities and Exchange Commission (SEC) relative to listing on the OTCQB securities market (please see news release dated March 26, 2014). Valdor plans to respond to these comments during the week of August 25, 2014.
Valdor is a technology company with two divisions:
1) Valdor Fiber Optics, a fiber optic components company specializing in the design, manufacture and sale of fiber optic splitters, connectors, laser pigtails and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. The company specializes in harsh environment products and in particular splitters and connectors and;
2) Niagara Streaming Media, a streaming video business that owns four patents and markets the Niagara and GoStream product lines. Streaming video is the future of television.
The Valdor business plan incorporates growth by acquisition. For further information on Valdor's product lines please visit www.valdor.com.
About Valdor Technology International Inc. (www.valdortech.com)
Valdor is a high technology fiber optic components company specializing in the design and manufacture of fiber optic connectors, laser pigtails, splitters, and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. Valdor specializes in harsh environment products and in particular splitters and connectors. Valdor's business plan incorporates growth by acquisition. For information on Valdor's product lines please visit www.valdor.com.
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On Behalf Of the Board of Directors of
VALDOR TECHNOLOGY INTERNATIONAL INC.
Corporate Office: Suite 450 - 789 West Pender Street, Vancouver B.C. Canada V6C 1H2 ph. (604) 687-3775
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.