Vendetta Mining Closes First Tranche of Private Placement

Vendetta Mining Corp. (TSXV:VTT) announced that it’s closed the first tranche of a private placement announced on September 10, 2015.
As quoted in the press release:

The Company issued a total of 2,020,000 units at a price of $0.10 per unit for gross proceeds of $202,000 comprised of the Company’s Management and Resource Capital Fund VI L.P. (“RFC”). RCF currently holds 32% of Vendetta’s Issued and Outstanding Share and has agreed to maintain its pro rata interest in the Company.
The proceeds of the private placement will be used to advance the development of the Pegmont project including resource development drilling at the newly discovered Burke Hinge Zone (located near surface) and Zone 5 (an area of significantly higher zinc grades), metallurgical test work, property payments and for general working capital. On completion of the drilling and  metallurgical programs, the Company intends to update the NI 43-101 Mineral Resource Estimate.

Click here to read the full Vendetta Mining Corp. (TSXV:VTT) press release.