Mr. Vikas Ranjan reports
VORTEX METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vortex Metals Inc. has arranged a non-brokered private placement for gross proceeds of up to $1-million, comprising 12.5 million units at a price of eight cents per unit.
Each unit will consist of one common share in the capital of the company and one-half common share purchase warrant. Each warrant will be exercisable into one common share at a price of 12 cents for a period of two years from the date of issuance.
The company intends to use the proceeds for exploration activities at the company's Illapel copper project in Chile and for general working capital purposes.
All securities issued with respect to the offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. The closing of the offering is subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange. The offering may close in multiple tranches as subscriptions are received. Finders' fees may be payable in connection with the sale of the units, in accordance with the policies of the 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 SA de CV, it owns 100-per-cent interests in two drill-ready, high-potential copper-gold volcanogenic massive sulphde 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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