Vega Mining Announces Completion of Private Placement
VEGA MINING INC.
Suite 3123, 595 Burrard Street Vancouver, British Columbia V7X 1J1
NEWS RELEASE VEGA MINING ANNOUNCES COMPLETION OF PRIVATE PLACEMENT
May 29th, 2023 – Vancouver, British Columbia – Vega Mining Inc. (the “Company”) announces that it has completed a non-brokered private placement (the “Offering”) of 44,500,000 common shares (each, a “Share”) at a price of $0.02 per Share for gross proceeds of $890,000. The proceeds of the Offering will be utilized by the Company for general working capital purposes and to retire existing payables.
All Shares issued in connection with the Offering are subject to a statutory hold period until September 30, 2023 in accordance with applicable securities laws. In addition, a portion of the Shares are subject to volunteer pooling arrangement from which they will be released quarterly in eight equal installments over a twenty-four-month period. No finders’ fees or commissions were paid in connection with completion of the Offering.
For further information, contact Gordon Friesen at [email protected].
On behalf of the Board,
Vega Mining Inc.
Gordon Friesen, Chief Executive Officer
This news release may contain certain “Forward-Looking Statements” within the meaning of applicable securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the intended use of proceeds from the Offering and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.