Vendetta Mining Corp. Closes the Pegmont Pb-Zn-Ag Property Transaction and $2.25 Million Private Placement

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[{"type":"text","content":"Vendetta Mining Corp. Closes the Pegmont Pb-Zn-Ag Property Transaction and $2.25 Million Private Placement(via Thenewswire.ca)\n\n \nVancouver, BC / TNW-ACCESSWIRE / August 27th, 2014 / Vendetta Mining Corp. (VTT-TSX:V) (the \"Company\" or \"Vendetta\") is pleased to announce that it has received final TSX Venture Exchange (\"TSXV\") approval for both its previously announced option deal on the Pegmont Lead-Zinc-Silver deposit, in Queensland, Australia and its concurrent private placement (see news release #1 dated August 11th 2014) \n\n\n \nThe Company has initiated the payment of the initial option payment of A$250,000 to Pegmont Mines Ltd (the \"Vendor\") and the reimbursement of A$300,000 in exploration expenditures by the Vendor that were incurred to meet minimum Queensland Ministry of Mines required work commitments for the current year during the negotiation period. The Company will be completing QA/QC checks and the results will follow.\n\n\n \nPegmont Lead Zinc Deposit\n\n\n \nThe Pegmont lead-zinc-silver deposit is located 25 km east of BHP Billiton's world class Cannington silver-lead-zinc mine and 28 km north of Chinova Resources' Osborne copper-gold mine. It is proximate to existing infrastructure that includes roads, railhead and natural gas for power generation.\n\n\n \nFinancing\n\n\n \nThe Company has closed its over-subscribed non-brokered private placement for aggregate gross proceeds of $2,249,980.46. The Company issued units at $0.26 per unit. Each unit in the private placement is comprised of one common share and one-half of one share purchase warrant with each whole warrant exercisable into one additional common share at a price of $0.35 until August 27, 2017.\n\n\n \nIn connection with the private placement, the Company has paid cash finder's fees to certain finders for an aggregate amount of $46,982.44, which is equal to 8% of the total subscription amount of the number of units introduced by the finders to the Company.\n\n\n \nAll securities issued in connection with the Financing will be subject to a four-month hold period expiring on December 28th, 2014. \n\n \n \nNew Directors\n\n\n \nThe Company has accepted the resignations of two directors, Rob McLeod and Darryl Cardey. \n\n\n \nTheir places on the board have been filled with the appointment of Mr. Peter Voulgaris B.Eng.Geol. (Hons), M.Eng.Sci. MA...

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