Toronto, Ontario, Oct 07, 2014 VENDOME RESOURCES CORP. (Vendome or Company) (VDR)(frankfurt:9VR), 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 ("Unit") 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 (Warrant). 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 ("Acceleration Period"). 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.
ABOUT VENDOME:
Vendome is a mineral exploration company located in Toronto, Canada. Our primary focus is to advance our flagship properties, San Javier, La Diana and San Miguel, located in the heart of the Sierra Madre del Sur precious metals belt, in the State of Guerrero, Mexico. The three properties encompass an area of over 17,000 hectares and have reported high grade silver samples of up to 15,000 g/t. Vendome also owns minerals claims in the center of the Borden Lake Gold District in Ontario, Canada, known as our Ivanhoe Lake Property. Recently, Probe Mines Inc. (PRB) made a major gold discovery in the Borden Lake Gold District, within the Kapuskasing Structural Zone (KSZ), which is located 60 kilometers southwest of our wholly-owned Ivanhoe Lake claims. Ivanhoe Lake is situated in the KSZ, shares the same geological formation with Probe and is on strike with Probes multi-million ounce gold deposit. Ivanhoe Lake has emerged as a new focus area for our team. Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF VENDOME RESOURCES CORP.
W. John Priestner President & Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Companys filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
Contact: Vendome Resources Corp.
Robert Chisholm Director
(647) 932-1604
