Vendetta Mining Corp. (TSXV:VTT) announced that it has entered into an share subscription facility with Scharfe Holdings, Inc. for private placement of units for a gross proceeds of CAD 500,000 on January 27, 2020. Under the terms of the agreement, the company may at any time send a draw down notice to the investor specifying the number of units for which investor will have an obligation to subscribe for a term of 12 months and may be repeated as many times as the company desires during the term of the agreement until the maximum subscription amount of CAD 500,000 has been subscribed by the investor. Such term can be renewed for an additional CAD 500,000 on the same terms as the original agreement for a period of 12 months at the sole discretion of investor. Each unit will consist of one common share and one common share purchase warrant. Each Warrant will be exercisable for a period of three years from the date of closing to purchase one common share at an exercise price equal to a 30% premium to price of the units issued. The subscription price per unit will be equal to the higher of a discount of 10% to the average closing price of the company's common shares on the facilities of the TSX Venture Exchange for the 10 consecutive trading days prior to the closing date of the draw down or the lowest allowable per unit price under TSX Venture Exchange policies. The transaction is subject to receipt of applicable corporate and regulatory approvals, including approval from the TSX Venture Exchange.