Vendetta Mining Unveils $1.5 Million Financing And Mulls Dual Listing On Australian Stock Exchange

Vendetta Mining Corp (CVE:VTT) (OTCMKTS:VDTAF) said Monday it is orchestrating a C$1.5 million private placement to advance its Pegmont Lead Zinc project in Australia and is also evaluating the merits of a dual listing on the Australian Stock Exchange.

As part of its offering, the Vancouver company plans to issue up to 12 million units at $0.125 per unit. Each unit will consist of one 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.

The placement is expected to raise gross proceeds of up to C$1.5 million and net proceeds from the deal will be used to support the development of the company’s Pegmont Lead-Zinc project and general working capital.