Dear Fellow Valor Energy Shareholder,
Let me first say thank you for your continued support and patience!
No doubt, these have been trying times for all of us! It has now been almost one year since one of the most devastating global economic collapses seen in some 75 years...and Valor has certainly felt the effects! Contractual obligation to service our debt with common shares, combined with extremely low commodity prices and an almost non-existent investment climate, has forced us to take drastic actions to preserve and create opportunity to grow value; actions that we would not otherwise have anticipated. Through various initiatives, such as, focusing on our core business, divesting of non-key assets, and successfully negotiating restructures to certain debt agreements ...we have been able to meet our obligations and continue to successfully weather the storm!
The recent reverse split to our issued and outstanding shares and change in our symbol to VLEN has been one action that has been difficult for most to accept, and naturally so! It is with great care that I avoid any attempt to portray this reverse as anything but unfortunate ...to say the least! However, though painful, the reverse split has created a more attractive structure to potentially attract key financing that would not otherwise be available, and thereby provide the means to potentially capitalize on the tremendous opportunities that exist for expansion. I believe that our current initiatives will pay off with increased shareholder value in the long term.
Here also I would like to briefly address concerns that many of our shareholders have expressed regarding the "ominous" warnings that some markets are placing on our stock and the subsequent inability to trade. I want to belay fears by reassuring shareholders that these warnings are not nearly as "ominous" as they appear and that the situation should be resolved very shortly. We will be providing an additional press release very soon that will contain a full explanation that will not only clarify the situation, but also, detail our new plans to move forward.
In closing, I would like to again thank shareholders for their involvement with Valor Energy Corp! I would like to re-enforce our commitment to weathering the current financial crisis and, what's more, take advantage of the opportunity to position ourselves to capitalize on economic recovery and the return to prosperity that will bring!
Sincerely, Sheridan B. Westgarde Chief Executive Officer About Valor Energy ------------------
CONTACT: Valor Energy Corp., Investor Relations - Contact VLEN, (250) 833-1985 Or Email - firstname.lastname@example.org
SOURCE Valor Energy Corp.