Mr. Paul Sparkes reports

VORTEX CLOSES FLOW-THROUGH PORTION OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$1M

Vortex Energy Corp. has closed the flow-through portion of its previously announced non-brokered private placement for gross proceeds to the company of $999,490.28. The company expects to close the non-flow-through portion of its previously announced non-brokered private placement on or about Dec. 29, 2023. For further details about the non-flow-through offering, please see the company's news release dated Nov. 28, 2023.

Pursuant to the FT offering, the company issued 2,324,396 units of the company at a price of 43 cents per unit, with each flow-through unit comprising one flow-through common share and one non-flow-through common share purchase warrant of the company entitling the holder to acquire one non-flow-through common share at a price of 55 cents until Dec. 22, 2025. The FT shares issued under the offering are intended to qualify as flow through shares within the meaning of the Income Tax Act (Canada).

The gross proceeds from the sale of the FT shares will be used to incur Canadian exploration expenses that are intended to qualify as flow-through mining expenditures as those terms are defined in the tax act, which the company intends to renounce to the purchasers of the FT shares. All securities issued in connection with the closing of the FT offering are subject to a statutory hold period, in accordance with applicable securities laws, expiring on April 23, 2024.

In connection with the FT offering, the company paid cash finders' fees totalling $43,732 and issued a total of 162,707 finders' warrants entitling the holder thereof to acquire one non-flow-through common share at an exercise price of 55 cents until Dec. 22, 2025.

About Vortex Energy Corp.

Vortex Energy is an exploration-stage company engaged principally in the acquisition, exploration and development of mineral properties in North America. The company is currently advancing its Robinson River Salt project, comprising a total of 942 claims covering 23,500 hectares, located approximately 35 linear kilometres south of the town of Stephenville in the province of Newfoundland and Labrador. The Robinson River Salt project is prospective for both salt and hydrogen salt cavern storage. The company is actively evaluating technologies to efficiently store hydrogen or energy in salt caverns. Vortex Energy also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

We seek Safe Harbor.