DENVER, Sept. 15, 2015 /CNW/ - Resource Capital Fund VI L.P. ("RCF VI") reports that it has purchased 1,500,000 Units (as defined below) resulting in RCF VI holding 1,500,000 common shares (the "Subject Shares") in the capital of Vendetta Mining Corp. ("Vendetta") in connection a non-brokered private placement (the "Private Placement") by Vendetta of 2,020,000 units of Vendetta (each, a "Unit"). Each Unit consisted of one Vendetta Share and one-half of one Vendetta common share purchase warrant (each, a "Warrant") exercisable for 3 years at a price of C$0.13.
The Subject Shares were acquired at a price of C$0.10 per Unit, for aggregate gross proceeds paid to Vendetta of C$150,000.
Following the completion of the Private Placement, RCF VI beneficially owns, directly or indirectly, 7,269,231 Vendetta common shares, representing approximately 31.9% of Vendetta's common shares. Immediately prior to the completion of the Private Placement, RCF VI owned, directly or indirectly, 5,769,231 Vendetta common shares representing approximately 28.0% of the Vendetta common shares.
RCF VI acquired the Subject Shares for investment purposes. RCF VI may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Vendetta.
RCF VI's ownership figures in this press release of Vendetta common shares are presented on a non-diluted basis and prior to giving effect to any exercise of the Warrants held by RCF VI or other subscribers.
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.
SOURCE Resource Capital Fund VI L.P.
For further information: and to obtain a copy of the early warning report, please contact: Resource Capital Fund VI L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: (720) 946-1444, Attn: Molly Campbell