Vendetta Mining Corp. said it has closed the second tranche of a previously announced non-brokered private placement.
Combined with the first tranche of the private placement a total of 18,565,440 units were issued at a price of $0.05 per unit for gross proceeds of $928,272.
Each unit comprises one common share and one half of one common share purchase warrant exercisable for three years at a price of $0.07.
Net proceeds from the private placement will be used to advance the development of Vendetta's 100% owned Pegmont Lead-Zinc project and general working capital.
READ: Vendetta Mining inks option deal to buy the Killer Bore zinc concession in Australia
All securities issued and issuable under the private placement are subject to a four-month hold period from the date of closing, in addition to any other restrictions under applicable law.
Fees of $16,295 were paid in association with the first and second tranches of the private placement.
Vendetta Mining 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.
Contact the author at jon.hopkins@proactiveinvestors.com