00:23:26 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Vortex Energy Corp
Symbol VRTX
Shares Issued 74,023,133
Close 2024-01-09 C$ 0.69
Market Cap C$ 51,075,962
Recent Sedar Documents

Vortex Energy closes $1.5-million private placement

2024-01-09 17:19 ET - News Release

Mr. Paul Sparkes reports

VORTEX CLOSES PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$1.5M

Vortex Energy Corp. has closed its previously announced non-brokered private placement financing for gross proceeds to the company of $1.5-million.

Pursuant to the private placement, the company issued 3.75 million units of the company at a price of 40 cents per unit. Each unit comprises one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase a share at an exercise price of 50 cents until Jan. 9, 2026.

The net proceeds from the private placement are intended to be used for general and administrative expenditures. Because the issuance and the sale of the units were completed utilizing the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106, the securities issued to investors in the private placement are not subject to mandatory resale restrictions in accordance with applicable Canadian securities laws.

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 Robinsons River salt project is prospective for both salt and hydrogen salt cavern storage. The company is also evaluating technologies to efficiently store hydrogen or energy in salt caverns. Vortex also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

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