Business
Vendome Capital II Corp. Provides Updated Information in Respect to Qualifying Transaction
Vendome Capital II Corp. Provides Updated Information in Respect to Qualifying Transaction
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\nVendome Capital II Corp. Provides Updated Information in Respect to Qualifying Transaction\n\n\n Sep. 14, 2009 (Filing Services Canada) -- Vendome Capital II Corp. (VCT.P - TSX Venture), a capital pool company, announced on September 8, 2009 that it had entered into an Earn in Option Agreement (\"Agreement\") on August 31, 2009 with Richmond Minerals Inc. (\"Richmond\"). The Agreement permits Vendome to earn a 51% interest in the Guibord Property as described below, upon the payment of CA$25,000 and 600,000 common shares of Vendome to Richmond within one year of receiving the Final Exchange Bulletin, as well as incurring a minimum of CA$250,000 in exploration expenditure within 2 years of the Final Exchange Bulletin. Following further consultation with the Exchange the deemed pricing will be $0.11 per common shares of the Corporation for a total deemed value of $91,000. The Transaction shall serve as the Corporation's Qualifying Transaction, as defined in Policy 2.4 of the TSX Venture Exchange (the \"Exchange\") subject to the approval by the Exchange.Concurrently with the completion of the proposed Qualifying Transaction, Vendome plans to complete a financing of up to $525,000, consisting of $350,000 flow through financing and $175,000 hard cash financing. The proposed terms of the concurrent financing are as follows.-------------------------------------------------------------------------Type Flow-Through Hard Cash-------------------------------------------------------------------------Unit Price CA$ 0.13 CA $0.11-------------------------------------------------------------------------Number of 2,692,308 1,590,909units-------------------------------------------------------------------------Units are 1 common share and 1 common share and comprised 1 share purchase warrant 1 share purchaseof warrant -------------------------------------------------------------------------Share Entitles the holder to Entitles the holder topurchase purchase one additional purchase one additional warrant share at $0.15 within share at $0.15 within 2 years of the Final 2 years of the Final Exchange Bulleting and Exchange Bulleting and at $0.20 for the at $0.20 for the following 3 years following 3 years -------------------------------------------------------------------------Furthermore, it was stated that Mr. Paul R. Ankcorn was both previously a...