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Vendetta Mining brings in C$1.03 million to advance Pegmont project in Australia

In its latest raise, the mining firm issued over 11.5 million units at C$0.09 a throw for gross proceeds of $1,037,999.88

Canadian currency
Each unit consists of one share and one share purchase warrant exercisable for three years at $0.13 per share

Vendetta Mining Corp (CVE:VTT) (OTCMKTS:VDTAF) said it has now raised over C$1.6 million, after closing an additional private placing, which brought in C$.1.03 million.

In March this year, the group unveiled a C$1.5 million private placement to advance its Pegmont Lead Zinc project in Australia, but has now said it raised more than that.

READ: Vendetta Mining making good progress with field work at Pegmont project in Australia

In the latest raise, the mining firm issued over 11.5 million units at C$0.09 a throw for gross proceeds of $1,037,999.88.

Each unit consists of one share and one share purchase warrant exercisable for three years at $0.13 per share.

Elysium Mining Ltd (Elysium), a private company controlled by Peter Voulgaris, a director of Vendetta, acquired 500,000 units in the placing and Octavian Capital Corp, a private company controlled by Michael Williams, CEO, President and  director of Vendetta acquired 833,333 units.

Vendetta Mining is a Canadian junior explorer, focused on 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.

Contact the author at [email protected]

Follow him on Twitter@Gile74

Quick facts: Vendetta Mining Corporate

Price: 0.065 CAD

TSX-V:VTT
Market: TSX-V
Market Cap: $13.28 m
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