Vendetta Announces a $1.5 Million Financing and Evaluating Potential Dual Listing on the Australian Stock Exchange
FOR IMMEDIATE RELEASE March 11, 2019
(VTT2019 – NR #2)
Vendetta Announces a $1.5 Million Financing and Evaluating Potential
Dual Listing on the Australian Stock Exchange
Vancouver, BC – March 11, 201 9 − Vendetta Mining Corp. (VTT-TSX: V ) (“Vendetta” or the
“Company”) is pleased to announce a non -brokered private placement (the “ Offering”) for gross
proceeds of up to CAD$1.5 million.
Private Placement
The Company plans to issue up to 12 million units at $0. 125 cents per unit to raise gross proceeds of
$1.5 million (subject to TSX Venture Approval). Each unit will comprise one common share and one-
half common share purchase warrant at an exercise price of $0. 18 for a period of two years following
the closing of the financing.
All Shares to be issued pursuant to the Offering will be subject to a four -month hold period under
applicable securities laws in Canada. All or a portion of this placement could be subject to finder’s fees
or commissions.
The net proceeds of the private placement will be used to advance the development of the Pegmont
Lead-Zinc project and general working capital.
ASX Duel Listing
The Company will commence investigating the merits of a duel listing on the Australian Stock Exchange
(“ASX”). The Company believes that dual listing on ASX could provide a larger pool of investors to
support development funding of the Pegmont Lead-Zinc Project.
Michael Williams, Vendetta’s President and CEO commented “ This financing will allow the Company
to complete Queensland government work commitments at Pegmont for 2019, the drilling will focus on
expanding the resource around the two Zone 3 underground panels and investigate exploration targets
along strike of the high-grade Bridge Zone.
Having successfully outlined the potential economics of Pegmont in the PEA we now feel that duel listing
on the ASX could further raise the profile of Vendetta within Australia and offer enhanced assess to
Australian institutional investors, many of which are restricted to only investing on the ASX.”
The Company continues to assess options to meet the final payment, a A$3M pre-payment of the royalty
to conclude the acquisition of Pegmont.
About Pegmont
The results of a Preliminary Economic Assessment (“PEA”) on Pegmont were released by the Company
in January 2019 (see Venetta news release dated January 28, 2019). The PEA outlined a 10 -year mine
plan that generates a strong economic return with a pre-tax IRR of 32% (after tax 24%) and NPV8% of
$201M ($128M after tax) for the base case long term consensus metal prices assumed ($0.91/lb lead and
$1.09/lb zinc). The spot price and exchange rate case demonstrates the strong sensitivity to metal prices
to with a pre-tax IRR of 3 7% (after tax 27%) and NPV8% of $249M ($158M after tax), $0.94/lb lead
and $1.25/lb zinc.
Further project enhancements have been identified along with high priority exploration targets.
About Vendetta Mining Corp.
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. Additional information on the Company can be found at www.vendettaminingcorp.com
and under the Vendetta profile at www.sedar.com.
Qualified Person
Peter Voulgaris, MAIG, MAusIMM, a Director of Vendetta, is a n on-independent Qualified Person as
defined by NI 43 -101. Mr. Voulgaris has reviewed the technical content of this press release, and
consents to the information provided in the form and context in which it appears.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michael Williams”
Michael Williams
President & CEO
Forward Looking Information
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be “forward‐looking statements” within the
meaning of the applicable Canadian Securities laws. All statements in this release, other than statements of
historical facts are forward looking statements, including the anticipated time and capital schedule to production;
estimated project economics, including but not limited to, mill recoveries, payable metals produced, production
rates, payback time, capital and operating and other costs, IRR and mine plan; expected upside from additional
exploration; expected capital requirements; and other future events or developments. Forward-looking statements
include statements that are predictive in nature, are reliant on future events or conditions, Forward‐looking
statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue",
"estimate", "expect”, “may", "will", "project", "predict", "potential", "targeting”, “intend", "could", "might",
"should", "believe” and similar expressions.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results
or events to differ materially from those anticipated in such forward‐looking statements. Although the Company
believes the expectations expresse d in such forward‐looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual results or developments may differ
materially from those in the forward‐looking statements. Factors that could cau se actual results to differ
materially from those in forward‐looking statements include, but are not limited to, changes in commodities
prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation
and exploration results; continued availability of capital and financing; differing results and recommendations
in the Feasibility Study; and general economic, market or business conditions. In addition, forward‐looking
statements are subject to various risks, including but not limited to operational risk; political risk; currency risk;
capital cost inflation risk; that data is incomplete or inaccurate; the limitations and assumptions within drilling,
engineering and socio‐economic studies relied upon in preparing the PEA; and market risks. The reader is
referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other
risk factors, accessible through Vendetta Mining’s profile at www.sedar.com
There is no certainty that any forward‐looking statement will come to pass and investors should not place undue
reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the
forward‐looking statements in this release, except as required by law.