Vendetta Closes A$3.0M Funding Package to Complete Pegmont Acquisition and Private Placement Update

About this update from Vendetta Mining Corp.

[{"type":"text","content":"Vendetta Closes A$3.0M Funding Package to Complete Pegmont Acquisition and Private Placement UpdateVancouver, British Columbia--(Newsfile Corp. - May 8, 2019) - Vendetta Mining Corp. (TSXV: VTT) (the \"Company\" or \"Vendetta\") is pleased to announce that it has closed the previously announced financing package with Nebari Holdings LLC. and that, as a result, the Company is now in a position to make its final property payment to Pegmont Mines Ltd., as vendor, and acquire a 100% interest in the Pegmont Lead-Zinc project.The Company would like to thank Pegmont Mines Ltd for assisting Vendetta with the agreements necessary to close the Nebari financing.Private Placement UpdateThe Company has amended the terms of the previously announced private placement (the \"Offering\"). The Company now plans to issue up to 15 million units at $0.10 cents per unit to raise gross proceeds of $1.5 million (subject to TSX Venture Approval). Each unit will comprise one common share and one-half common share purchase warrant, each whole warrant entitling the holder thereof to acquire one common share of the Company at a price of $0.15 per share, for a period of two years following the closing of the Offering.All shares to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada. The Company may also pay one or more finders fees in connection with the completion of all or a portion of the Offering. The net proceeds of the Offering will be used to advance the development of the Pegmont Lead-Zinc project and general working capital.Field Work Immediately following the closing of the Offering, the Company will commence field work at the Pegmont Lead-Zinc project. The detailed geological mapping program commenced last year will be expanded and the Company will commence a drill program consisting of resource development drilling in Zones 2, 3 and 4, and exploration drilling on newly identified structural targets.In addition, metallurgical test work will be completed on Zone 1 transition material from six previously drilled holes in Main Pit 1. Additional metallurgical samples will be collected during this program.About the Pegmont Lead Zinc ProjectThe Pegmont Lead Zinc Project is situated in the Mount Isa - McArthur Mineral Province, Australia which hosts one of the world's richest endowment...

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