DENVER, CO, Aug. 28, 2014 /CNW/ - Resource Capital Fund VI L.P. ("RCF") reports that it has acquired in aggregate 5,769,231 units of Vendetta Mining Corp. (the "Units") pursuant to the recent private placement offering of 8,638,386 Units by Vendetta Mining Corp. ("Vendetta") for gross proceeds of $2.2 million or $0.26 per Unit (the "Offering"). Each Unit is composed of one common share in the capital of Vendetta (a "Share") and one-half of a common share purchase warrant (a "Warrant"). Each full Warrant entitles the holder thereof to acquire a common share in the capital of Vendetta (a "Warrant Share") within 24 months of the closing of the Offering at an exercise price of $0.35 per Warrant Share.
Prior to the Offering, RCF did not own any securities of Vendetta. After the Offering, RCF owns and controls 5,769,231 Shares (8,653,846 assuming exercise of the Warrants) representing 28.07% of the issued and outstanding Shares of Vendetta (36.93% on a partially diluted basis).
The Units were acquired for investment purposes. RCF may in the future decide to invest in the Shares and, if so, RCF will evaluate any future investment in Vendetta from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in Vendetta as circumstances require.
SOURCE: Resource Capital Fund VI L.P.
For further information: For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Vendetta's profile on the SEDAR website www.sedar.com or contact: Resource Capital Fund VI L.P, 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444, Attn: Molly Campbell