Vendome Resources Announces Closing of Its Private Placement Financing

TORONTO, CANADA--(Marketwired - Aug. 3, 2016) - Vendome Resources Corp. (the "Company") (TSX VENTURE:VDR)(FRANKFURT:9VR) is pleased to announce that, further to its news releases dated June 30, 2016 and July 18 2016, it has completed its non-brokered private placement financing for aggregate gross proceeds of $542,562.46, by issuing 59,008,331 units (the "Units") of the Company at a price of $0.0075 per unit for gross proceeds of $ $442,562.48, and 13,333,331 "flow-through" shares at a price of $0.0075 per share for gross proceeds of $99,999.98 (collectively, the "Private Placement").

Each Unit consists of one common share in the capital of the Company and one half of one common share purchase warrant. Each whole warrant entitles its holder to purchase one additional common share at an exercise price of $0.01 for a period of 3 years from the closing date of the Private Placement.

The Company closed its first tranche of the Private Placement on July 27, 2016 of which the Company issued 21,089,999 Units for gross proceeds of $158,174.99 (the "First Tranche"). The Company closed its final tranche of the Private Placement on August 2, 2016 of which the Company issued 37,918,322 Units for gross proceeds of $284,387.49 and 13,333,331 "flow-through" shares for gross proceeds of $99,999.98 (the "Final Tranche").

Finders' fees consisting of $54,256.25 in cash and 7,234,166 broker warrants ("Broker Warrants") were paid to the finder's in accordance with policies of the TSXV. Each Broker Warrant is convertible into one broker warrant unit (a "BW Unit") at a price of $0.0075 per BW Unit for a period of two years from the date of issuance. Each BW Unit consists of one Share (a "BW Share") of the Company and one-half Warrant of the Company (each whole warrant, a "BW Warrant"). Each BW Warrant will entitle the holder to purchase one Share (a "BW Warrant Share") of the Company for a period of 3 years following the date of issuance of the BW Warrants at a price of $0.01 per BW Warrant Share.

The net proceeds from the sale of the Private Placement will be used to finance the Company's working capital requirements.

Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Exchange and the securities regulatory authorities. Due to the fact that the Private Placement was completed by issuing securities at a price lower than $0.05 per security, the Company is required to obtain a waiver from the TSX Venture Exchange (the "Exchange"). In order to obtain the waiver from the Exchange, the Company sought the approval of its shareholders for a consolidation of the Common Shares on a ten to one basis (the "Consolidation") at the upcoming annual general meeting, which is scheduled for September 6, 2016. The Company has received proxy forms from shareholder's holding 53.51% of the issued and outstanding shares of the Company, approving of the Consolidation. The securities issued under the First Tranche are subject to a hold period expiring on November 28, 2016 and the securities issued under the Final Tranche are subject to a hold period expiring on December 3, 2016.

About Vendome:

Vendome is a mineral exploration company located in Toronto, Ontario, Canada. Our primary focus is to acquire "near-term production" exploration mining projects and existing producers. Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.

ON BEHALF OF THE BOARD OF DIRECTORS OF VENDOME RESOURCES CORP.

W. John Priestner
President and 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 Company's 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.