Mr. Paul Sparkes reports
VORTEX ENERGY CORP. ANNOUNCES LISTED ISSUER FINANCING EXEMPTION (LIFE) PRIVATE PLACEMENT
Vortex Energy Corp. intends to complete a non-brokered private placement financing consisting of a minimum of 2.19 million common shares of the company and up to a maximum of four million common shares at an issue price of 25 cents per common share for minimum gross proceeds of $547,500 and maximum gross proceeds of up to $1-million. Completion of the private placement will be contingent upon the company issuing a minimum of 2.19 million common shares at a price of 25 cents per common share for minimum aggregate proceeds of $547,500.
Closing of the private placement is anticipated to occur on or about May 22, 2025. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the private placement are intended to be used for exploration activities at the company's Robinson River salt and Fire Eye projects, for general administrative expenditures, and for general working capital purposes.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus
Exemptions), the common shares issuable under the private placement will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Pursuant to NI 45-106, the securities issued to Canadian resident subscribers under the private placement will not be subject to resale restrictions.
There is an offering document dated April 24, 2025, related to the private placement that can be viewed under the company's profile at SEDAR+ and on the company's website. This offering document contains additional details regarding the private placement, including details regarding the expected use of proceeds from the private placement. Prospective investors should read this offering document before making an investment decision.
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 composed of 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 also currently advancing its Fire Eye uranium property in the Athabasca basin, a region renowned for its uranium deposits.
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