Valley High Ventures Ltd.

Valley High Ventures Ltd.

October 04, 2010 09:10 ET

Valley High Ventures Announces Increase in Size of Over-Allotment Option Associated With Bought Deal Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) -


Valley High Ventures Ltd. ("Valley High" or the "Company") (TSX VENTURE:VHV) is pleased to announce that it has agreed to increase the size of the over-allotment option (the "Over-Allotment Option") granted to Canaccord Genuity Corp. (the "Underwriter") pursuant to its previously announced bought deal private placement of 10,000,000 units at $0.75 per unit for gross proceeds of $7,500,000 (the "Offering"). The Over-Allotment Option granted to the Underwriter has been increased by 680,000 units and will now permit the Underwriter to purchase up to an additional 4,080,000 units for additional gross proceeds of up to $3,060,000. All other terms of the Offering remain as previously announced by the Company in its news release dated September 23, 2010.

The Company intends to use the net proceeds of the Offering to conduct exploration on its projects in Mexico and Canada, and for general working capital purposes.

The Offering is scheduled to close on or about October 8, 2010 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The securities issued by Valley High in connection with this Offering are subject to a 4-month "hold period" as prescribed by the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Valley High Ventures Ltd.:

Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Cordero project in Mexico (49% interest) is being evaluated for large bulk mineable silver, gold, zinc and lead deposits. The Mount Polley project is located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary Property, with Imperial. In the Yukon, Valley High has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Valdez Gold Inc. has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property.


Robert Cameron, Chief Executive Officer

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.

"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."

Contact Information