Business
Vendetta Closes First Tranche of Its Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2020) - Vendetta Mining Corp. (TSXV: VTT...
About this update from Vendetta Mining Corp.
[{"type":"text","content":"Vendetta Closes First Tranche of Its Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 6, 2020) - Vendetta Mining Corp. (TSXV: VTT) (\"Vendetta\" or the \"Company\") is pleased to announce that the Company has requested from the TSX Venture Exchange an increase of its previously announced non-brokered private placement (the \"Private Placement\") of up to 11,000,000 units (the \"Units\") to 20,000,000 Units for gross proceeds of $800,000.The Company has closed the first tranche of the Private Placement with a total of 13,962,050 units being issued at a price of $0.04 per Unit for gross proceeds of $558,482. Each Unit comprises of one common share and one common share purchase warrant exercisable for three years at a price of $0.06.Net proceeds from the financing will be used to advance the development of the Companies 100% owned Pegmont Lead-Zinc project and general working capital.Total commissions of $7,798 were paid in association with the proceeds of this private placement.Cancellation of Stock OptionsThe Company also announces certain directors, officers and consultants of the Company have agreed to cancel 9,925,000 incentive stock options, at strike prices of $0.15 and $0.30, previously issued.Company will have no stock options outstanding under its rolling 10% stock option plan and the Company does not intend to or re-issue any options at these current levels.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 & CEO604-448-7855The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking InformationCertain of the statements and information in this news release constitute \"forward-looking information\" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectation...