VENDOME RESOURCES CORP., a Toronto, Canada based minerals exploration company with key exploration assets in Guerrero State, Mexico and the Borden Lake Gold District, Ontario, Canada, is pleased to announce the closing of its non-brokered private placement offering on October 7, 2014, pursuant to which an aggregate of 980,000 units were sold at a price of $0.05 per Unit, raising gross proceeds of $49,000. Each Unit consists of one common share and one common share purchase warrant of the Corporation. Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.10 per common share for a period of 18 months from the Closing Date of the private placement, subject to an acceleration clause. Early expiration of the Warrants could occur once the Units are free from statutory resale restrictions (4 months plus one day) and the Company’s shares are trading at a volume-weighted price greater than $0.15 for a period of 15 consecutive trading days. Subsequent to this Acceleration Period, the Company may accelerate the expiry of the Warrants by providing notice to Warrant holders within 10 subsequent trading days outlining the Warrants will expire on the 30th calendar day after such notice is given to Warrant holders. The securities issued under the Offering are subject to a 4 month plus one day holding period and will expire on February 7, 2014. No Finder’s Fees were paid for this offering. Insiders of the Company participated in the financing by purchasing an aggregate of 500,000 units representing 51% of the offering. The private placement has been conditionally approved and is tentative to final approval by the TSXV.
