Vendetta Mining closes oversubscribed $4.2M financing

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By CPE News

Vancouver (pcJ News Breifs) – Vendetta Mining Corp. (TSX-V: VTT) has completed previously announced and oversubscribed private placement of 21,191,095 units at a price of $0.20 per unit for gross proceeds of $4,238,219

Each unit will comprise one common share and one half common share purchase warrant at an exercise price of $0.30 for a period of two years following the closing of the financing.

Net proceeds will be used for the 2017 resource development program at the company’s Pegmont lead-zinc deposit in Queensland, Australia and general working capital.

Vendetta Mining Corp. is a Canadian junior exploration company focused on advanced stage exploration and development at the Pegmont Lead Zinc Project in Australia. Vendetta has an option to acquire a 100% interest by completing certain work requirements and making option and advance royalty payments.

photo credit: Vendetta Mining