Vendetta Mining Corp. Announces Closing of Private Placement of Units
FOR IMMEDIATE RELEASE February 14, 2023
(VTT2023 – NR #02)
Vendetta Mining Corp. Announces Closing of Private Placement of Units
Vancouver, British Columbia, (Newsfile Corp. – February 14, 2023) Vendetta Mining Corp.
(VTT-TSX:V) (“ Vendetta” or the “ Company”) is pleased to announce that it has closed its
previously announced non-brokered private placement (the “ Private Placement”), pursuant to
which the Company has completed the issuance of 18,699,974 units (each, a “Unit”) at a price of
$0.05 per Unit for gross proceeds of $934,998.70.
Each Unit consists of one common share in the capital of the Company (a “Common Share”) and
one-half of one non-transferable common share purchase warrant of the Company (each whole
warrant, a “Warrant”). Each Warrant is exercisable by the holder to acquire one Common Share
for a period of 24 months from the date of closing of the Private Placement at a price of C$0.06
per share.
In connection with the Private Placement, the Company paid finders’ commissions of $9,100.
All securities issued pursuant to the Private Placement are subject to a hold period expiring on
June 15, 2023, in addition to such other restrictions as may apply under applicable securities laws
of jurisdictions outside Canada.
The Company intends to use the proceeds of the Private Placement for funding its Pegmont Lead
Zinc project activities and for working capital and general corporate purposes.
A beneficially owned or controlled by an insider of the Company ( the “Interested Par ty”)
purchased or acquired direction or control over a total of 3,182,400 Units as part of the Private
Placement. The placement to such person constitutes a “related party transaction” within the
meaning of 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 Interested Party’s participation in the Private Placement will be exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on
the exemptions set forth in sections 5.5(a) and 5.7(1)(b) of MI 61-101. The Company did not file
a material change report 21 days prior to the closing of the Private Placement as the details of the
participation of Interested Party had not been confirmed at that time.
Not for distribution to U.S. news wire services or dissemination in the United States.
About Vendetta Mining Corp.
Vendetta Mining Corp. 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
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advancing the Pegmont Lead Zinc project in Australia. Additional information on the Company
can be found at www.vendettaminingcorp.com.
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 th e 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 discussions of future plans, estimates and forecasts and statements as to manag ement's
expectations and intentions with respect to, among other things, the Company use of proceeds raised under
the Private Placement including funding activities at the Pegmont Lead Zinc project.
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, market uncertainty and that the Company will not utilize the proceeds raised under
the Private Placement as currently anticipated including for the purpose of funding activities at the
Pegmont Lead Zinc project.
In making the forward looking statements in this news release, the Company has applied se veral material
assumptions, including without limitation, that the Company will use the proceeds of the Private Placement
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 p rove 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 i n accordance with applicable securities laws. We seek
safe harbor.