Business
Vendetta Announces Shares for Debt Transaction
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2021) - Vendetta Mining Corp. (TSXV:...
About this update from Vendetta Mining Corp.
[{"type":"text","content":"Vendetta Announces Shares for Debt TransactionVancouver, British Columbia--(Newsfile Corp. - January 5, 2021) - Vendetta Mining Corp. (TSXV: VTT) (\"Vendetta\" or the \"Company\") announces that the Company has entered into debt settlement agreements with two arms' length creditors of the Company, pursuant to which it will settle aggregate debt of approximately $100,292.16. Under the terms of the first debt settlement agreement, the Company has agreed to settle debt in the amount of $44,625.00 through the issuance of 686,538 common shares in the capital of the Company (\"Common Shares\") at a price of $0.065 per Common Share. Under the terms of the second debt settlement agreement, the Company has agreed to settle debt in the amount of $55,667.16 through the issuance of 927,786 units of the Company (\"Settlement Units\") at a price of $0.06 per Settlement Unit. Each Settlement Unit will be comprised of one Common Share and one-half of one transferable Common Share purchase warrant, with each whole warrant entitling the holder to purchase one additional Common Share at an exercise price of $0.09 for a period of three years from the date of issue. The Common Shares and Settlement Units will be subject to a four month hold period. The debt settlement is subject to approval of the TSX Venture Exchange.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\"Michael Williams\"Michael WilliamsPresident & CEO604-484-7855The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the proposed debt settlement, 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 de...