Business
Vendome Resources Corp. $600,000 Private Placement
Vendome Resources Corp. $600,000 Private Placement
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\nVendome Resources Corp. $600,000 Private Placement\n\n\n Jun. 18, 2010 (Filing Services Canada) -- Vendome Resources Corp. (VDR - TSX Venture), is pleased to announce that it has requested price protection from the TSX Venture Exchange with regards to a non-brokered private placement for up to $600,000 at $0.06 per unit.  Each unit will be comprised of one share and one share purchase warrant series H1 (\"SPW Series H1\").  Each SPW Series H1 will be exercisable at $0.10 for the first year subsequent to the closing and at $0.15 for the second year, at which time it will expire on the second anniversary of the closing of this private placement.  The proceeds raised will be used for working capital.Mr. Kozich, President and Chief Executive Officer of Vendome, states that \"with these additional funds the company will be able to expand its exploration program on the Guibord property as well as consider additional concession for acquisition\".The above mentioned private placements are subject to final approval from the TSX Venture Exchange.Information about the Guibord PropertyThe Guibord Property (the \"Property\") is located in the Abitibi Greenstone belt, which hosts the Porcupine and Kirkland Lake mining camps. The Property is approximately 1,280 acres (518 hectares) in size and consists of 32 unpatented mining claims within the confines of four claim block numbered 1200195 to 12001198 inclusive.  The blocks are located in the northwest quarter of Guibord Township, Larder Lake Mining Division, District of Cochrane, Ontario.The Property lies approximately 80 kilometres east of the City of Timmins, 16 kilometres east of the Town of Matheson and 45 kilometres northwest of the Town of Kirkland Lake. The Property's approximate centre is located at 48 degrees 31 minutes North Latitude and 80 degrees 14 minutes West Longitude.Direct access to the Property is via Provincial Highway 101, east from Matheson, to where it crosses the northeast corner of claim 1200195.  Access to the central part of the Property is by a bush road that starts at Highway 101 and runs south through the Property from the centre of the north boundary of claim 1200195.In 1946, Gui-por Gold Mines drilled two holes on the Property (claim 1200196) that intersected lamprophyre, sediments with pyrite, quartz-carbonate...