Business
Vendome Capital II Corp. Resumption of Trading
Vendome Capital II Corp. Resumption of Trading
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\nVendome Capital II Corp. Resumption of Trading\n\n\n Apr. 14, 2010 (Filing Services Canada) -- Vendome Capital II Corp. (VDR - TSX Venture), is pleased to announce that its common shares will resume trading on April 15, 2010 under the symbol \"VDR\" on the TSX Venture Exchange (the \"Exchange\") following the close of its qualifying transaction that was previously announced on September 8, 2009 (the \"Transaction\") for which it filed a Filing Statement dated January 28, 2010 and an amended Filing Statement dated April 8, 2010.The Corporation has executed an Earn in Option Agreement (the \"Agreement\") with Richmond Minerals Inc. (\"Richmond\").  The Agreement will permit the Corporation to earn a 51% interest in the Guibord Property (the \"Property\") as described in the Filing Statements, upon the payment of CA$25,000 and 600,000 common shares of the Company to Richmond within one year of receiving the Final Exchange Bulletin, as well as incurring a minimum of CA$250,000 in exploration expenditures within 2 years of the Final Exchange Bulletin.Concurrently with the closing of the Transaction, the Corporation raised $535,000 via a debt issuance.  The terms of the debenture financing are for a term of 18 months, bearing no interest, are not convertible in to common shares of the Corporation and provide for the issuance of 1,900,000 purchase warrants (the \"Purchase Warrants\").  Each Purchase Warrant entitles the holder to purchase one common share of the Corporation at a price of $0.15 per common share until October 11, 2011.  A $10,000 commission has been paid to Norstar Securities LP, as well as a corporate finance fee of 315,000 broker warrants (\"Broker Warrant\").  Each Broker Warrant entitles the holder to purchase one common share of the Corporation at a price of $0.15 per common share until October 11, 2011.  The net proceeds of the offering will be used for the continued development, exploration and general working capital of the resulting issuer.Unless permitted under security legislation, the holders of the Purchase Warrants and the Broker Warrants must not trade these securities before August 12, 2010.The Corporation is planning to file articles of amendment to change its name to \"Vendome Resources Corp.\" (the \"Proposed Name Change\").  The P...