VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 24, 2014) - Vega Mining Inc. (Vega) (TSX VENTURE:VMI) announces that it has arranged a non-brokered private placement of up to 3,500,000 units for total proceeds of up to $245,000; subject to the approval of the TSX Venture Exchange. Up to 3,500,000 units will be issued as flow-through units at a price of $0.07 per unit consisting of one common share and one half of one whole warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.12 per share for eighteen (18) months from the date of closing. The proceeds of the private placement will be used for exploration activities on its graphite properties. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.
Vega Mining Inc. Inc. (TSX VENTURE:VMI) is a Canadian junior exploration company focused on discovering gold and graphite deposits in politically safe jurisdictions.
On behalf of the board of VEGA MINING INC.
Archie Boyce, President
"Neither the 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 report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible.