Mr. Vikas Ranjan reports
VORTEX METALS CLOSES SECOND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Vortex Metals Inc., further to its news releases dated Jan. 10, 2025, Jan. 13, 2025, and Jan. 27, 2025, has closed the second and final tranche of its previously announced non-brokered private placement, whereby the company has completed the issuance of 8,872,500 units at a price of eight cents per unit for gross proceeds of $709,800. Together with proceeds from the first tranche, the company has raised aggregate gross proceeds of $1,112,735.
Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant is exercisable into one additional common share at a price of 12 cents per warrant for a period of two years from the date of issuance.
The company intends to use the proceeds of the second tranche for exploration activities at the company's Illapel copper project in Chile and for general working capital purposes.
In connection with the second tranche, the company issued 162,825 finders' warrants and paid commissions of $13,026 to certain finders. Each finder's warrant entitles the holder to purchase an additional common share at a price of 12 cents for a period of 24 months from the date of issuance.
All securities issued with respect to the second tranche, including the finders' warrants, will be subject to a hold period expiring on June 27, 2025, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
About Vortex Metals Inc.
Vortex Metals is a copper-focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to an 80-per-cent interest in the brownfield Illapel copper project in Chile, and, through its Mexican subsidiary Empresa Minera Acagold SA de CV, it owns a 100-per-cent interest in two drill-ready high-potential copper-gold volcanogenic massive sulphide (VMS) properties, Riqueza Marina and Zaachila, in Oaxaca, Mexico. The company emphasizes responsible exploration, community engagement and environmental stewardship to meet the rising global demand for copper.
We seek Safe Harbor.
© 2025 Canjex Publishing Ltd. All rights reserved.