Vortex Metals Closes Second and Final Tranche of Non-Brokered Private Placement
Vancouver, British Columbia–(Newsfile Corp. – February 27, 2025) – Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) (“Vortex” or the” Company “) is pleased to announce that, further to its news releases dated January 10, 2025, January 13, 2025, and January 27, 2025, it has closed the second and final tranche of its previously announced non-brokered private placement (the “Second Tranche“), whereby the Company has completed the issuance of 8,872,500 units (each, a “Unit“) at a price of $0.08 per Unit for gross proceeds of $709,800. Together with proceeds from the first tranche, the Company has raised aggregate gross proceeds of $1,112,735.
Each Unit consists of one common share in the capital of the Company (a “Common Share“) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant is exercisable into one additional Common Share at a price of $0.12 per Warrant for a period of two years from the date of issuance.
The Company intends to use the proceeds of the Second Tranche for exploration activities at the Company’s Illapel Copper Project in Chile and for general working capital purposes.
In connection with the Second Tranche, the Company issued 162,825 finder’s warrants (the “Finder’s Warrants“) and paid commissions of $13,026 to certain finders. Each Finder’s Warrant entitles the holder to purchase an additional Common Share at a price of $0.12 for a period of 24 months from the date of issuance.
All securities issued with respect to the Second Tranche, including the Finder’s Warrants, will be subject to a hold period expiring on June 27, 2025, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
None of the securities sold in connection with the Second Tranche have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Vortex Metals Inc.
Vortex Metals Inc. 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 up to 80% 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% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (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 sustainably.
For further information regarding this press release contact:
Vikas Ranjan,
Chief Executive Officer and Director
Email: vranjan@vortexmetals.ca
Forward-Looking Statements
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including permitting approvals, any private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as several factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedarplus.ca . The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The Company cautions that mineralization on, or production from, neighbouring properties is no guarantee of the existence of similar mineralization or a guarantee of future production from the Illapel Project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
