Mr. Vikas Ranjan reports
VORTEX METALS CLOSES SECOND TRANCHE OF UPSIZED NON-BROKERED PRIVATE PLACEMENT
Vortex Metals Inc., further to its news releases dated Sept. 11, 2025, Sept. 30, 2025, Oct. 6, 2025, and Oct. 9, 2025, has closed a second tranche of its previously announced non-brokered private placement. Under the second tranche, the company has completed the issuance of 2,625,000 units at a price of four cents per unit for gross proceeds of $105,000. The company previously closed the first tranche of the offering on Oct. 6, 2025, for aggregate gross proceeds of $700,000 through the sale of 17.5 million units. To date, the company has raised aggregate gross proceeds of $805,000 under the offering through the sale of 20,125,000 units.
Each unit consists of one common share in the capital of the company and one-half of one Share purchase warrant. Each whole warrant is exercisable into one additional share at a price of eight cents per warrant for a period of 36 months from the date of issuance. Eighteen months after the date of issuance of the warrants, the company will have the right to accelerate the expiry date of the warrants if the trading price of the shares exceeds 15 cents for a period of 10 consecutive trading days. No finders' fees were paid in connection with the second tranche.
Vortex intends to use the gross proceeds of the second tranche as follows: approximately 40 per cent to pay for mining concession fees; approximately 40 per cent to pay for exploration fees; and the remaining 20 per cent for general working capital purposes.
All securities issued with respect to the second tranche are subject to a hold period expiring on Feb. 22, 2026, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The second tranche remains subject to final acceptance from the TSX Venture Exchange.
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 an up-to-80-per-cent interest in the brownfield Illapel copper project in Chile and, through its Mexican subsidiary, Empresa Minera Acagold S.A. de C.V., it owns 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.
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