Vendetta Closes First Tranche of Its Non-Brokered Private Placement and Announces Increase to $750,000
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2021) - Vendetta Mining Corp. (TSXV: VTT) ("Vendetta" or the "Company") is pleased to announce that it is increasing its previously announced private placement from 10,000,000 units to 15,000,000 units (see June 21, 2021 News Release).
The Company has closed the first tranche of the Private Placement with a total of 10,615,000 units being issued at a price of $0.05 per Unit for gross proceeds of $530,750. Each Unit comprises of one common share and one half of one common share purchase warrant exercisable for three years at a price of $0.07. All securities issued and issuable under the Private Placement are subject to a four-month hold period from the date of closing of the Private Placement, in addition to any other restrictions under applicable law.
Net proceeds from the financing will be used to advance the development of the Companies 100% owned Pegmont Lead-Zinc project and general working capital.
Fees of $9,120 were paid in association with the financing.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advancing the Pegmont Lead Zinc project in Australia. Additional information on the Company can be found at www.vendettaminingcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain disclosure in this release, including statements regarding the Private Placement, may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that: the Company will obtain the necessary regulatory approvals for the Private Placement. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals for the Private Placement, a failure to raise sufficient funds under the Private Placement on the proposed terms or at all and changes in the Company's plans. 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. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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