Vendetta Announces Upsize and Closes Private Placement
Vendetta Mining has closed its non-brokered private placement, issuing 39,500,000 units at $0.01 per unit for total proceeds of $395,000. The offering was upsized from the initial $350,000 with TSX Venture Exchange approval. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 36 months. The proceeds will fund working capital and sustaining project fees. Director Michael Williams acquired 5,000,000 units in the offering. The securities have a 4-month and one-day hold period.
Vendetta Mining ha concluso il suo collocamento privato non mediato, emettendo 39.500.000 unità a $0,01 per unità per un totale di $395.000. L'offerta è stata aumentata rispetto ai $350.000 iniziali con l'approvazione della Borsa TSX Venture. Ogni unità comprende un'azione ordinaria e un warrant, con warrants esercitabili a $0,05 per azione per 36 mesi. I proventi serviranno a finanziare il capitale operativo e le spese del progetto. Il direttore Michael Williams ha acquisito 5.000.000 unità nell'offerta. I titoli hanno un periodo di blocco di 4 mesi e un giorno.
Vendetta Mining ha cerrado su colocación privada no mediada, emitiendo 39.500.000 unidades a $0,01 por unidad para unos ingresos totales de $395.000. La oferta se amplió desde los $350.000 iniciales con la aprobación de la Bolsa de Valores TSX Venture. Cada unidad incluye una acción ordinaria y un warrant, con warrants ejercitables a $0,05 por acción durante 36 meses. Los ingresos se destinarán al capital de trabajo y a los costos del proyecto. El director Michael Williams adquirió 5.000.000 unidades en la oferta. Los valores tienen un período de retención de 4 meses y un día.
Vendetta Mining은 중개인이 없는 사모 배치를 마감하고 39,500,000 유닛을 단위당 $0.01에 발행하여 총 수익 $395,000을 확보했습니다. 이 제공은 TSX Venture Exchange의 승인을 받아 초기 $350,000에서 확대되었습니다. 각 유닛은 하나의 보통주와 하나의 워런트로 구성되어 있으며, 워런트는 주당 $0.05에 36개월 동안 행사할 수 있습니다. 수익은 운영 자본과 지속 가능 프로젝트 비용을 충당하는 데 사용됩니다. 이사 Michael Williams는 이번 제공에서 5,000,000 유닛을 인수했습니다. 증권은 4개월 1일의 보유 기간이 있습니다.
Vendetta Mining a clôturé son placement privé sans courtier, émettant 39 500 000 unités à $0,01 par unité pour des produits totaux de $395 000. L'offre a été augmentée par rapport à la première offre de $350 000 avec l'approbation de la Bourse TSX Venture. Chaque unité comprend une action ordinaire et un warrant, les warrants pouvant être exercés à $0,05 par action pendant 36 mois. Les produits serviront à financer le fonds de roulement et les frais de projet de maintien. Le directeur Michael Williams a acquis 5 000 000 unités dans le cadre de l'offre. Les titres ont une période de blocage de 4 mois et un jour.
Vendetta Mining hat seine nicht vermittelte Privatplatzierung abgeschlossen und 39.500.000 Einheiten zu $0,01 pro Einheit ausgegeben, was Gesamteinnahmen von $395.000 ergibt. Das Angebot wurde auf $350.000 erhöht, nachdem die Genehmigung der TSX Venture Exchange erteilt wurde. Jede Einheit enthält eine Stammaktie und ein Warrant, wobei Warrants zu $0,05 pro Aktie innerhalb von 36 Monaten ausgeübt werden können. Die Einnahmen werden zur Finanzierung des working capitals und der laufenden Projektkosten verwendet. Direktor Michael Williams erwarb 5.000.000 Einheiten im Angebot. Die Wertpapiere unterliegen einer Haltedauer von 4 Monaten und einem Tag.
- Successfully raised $395,000 through private placement
- Received approval to upsize offering from $350,000 to $395,000
- 36-month warrant terms provide potential future funding at $0.05 per share
- Significant dilution with 39.5 million new units issued
- Low unit price of $0.01 indicates weak market position
- Insider participation suggests external investor interest
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2024) - Vendetta Mining Corp. (TSXV: VTT) ("Vendetta" or the "Company") is pleased to announce that, further to its news releases dated September 4, 2024 and October 2, 2024, the Company has closed its previously announced non-brokered private placement (the "Offering") whereby the Company completed the issuance of 39,500,000 units (each, a "Unit", and collectively the "Units") at a price of
Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share of the Company at a price of
The Company will use the proceeds of the Offering for working capital and sustaining project fees. None of the proceeds received will be used to pay non-arm's length parties nor will they be used to pay for investor relations activities.
Under the Offering, the Company has paid fees to eligible finders consisting of
Michael Williams, a director of the Company (the "Related Party"), purchased or acquired direction or control over a total of 5,000,000 Units as part of the Offering. The placement to the Related Party constituted a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Notwithstanding the foregoing, the directors of the Company have determined that the Related Party's participation in the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the Related Party nor the consideration received for such securities exceeds
The securities issued in the Offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of 4 months and one day from the date of issuance. The Offering remains subject to regulatory approval and the approval of the TSX Venture Exchange.
None of the securities sold under the Offering have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company focused on advanced stage exploration and development at the
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Williams"
Michael Williams
President & CEO
604-484-7855
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the anticipated use of proceeds of the Offering. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will use the proceeds of the Offering as currently anticipated, and that the Company will receive final approval from the TSX Venture Exchange in connection with the Offering.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the required regulatory approval from the TSX Venture Exchange in connection with the Offering and that the Company will not use the proceeds of the Offering as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228243
FAQ
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