Vortex Metals Announces Non-Brokered Private Placement

Core Viewpoint - Vortex Metals Inc. is conducting a non-brokered private placement to raise up to $600,000 through the sale of units priced at $0.04 each, which will consist of common shares and warrants [1][2]. Group 1: Offering Details - The offering will consist of a maximum of 15,000,000 units, with each unit comprising one common share and one-half of a common share purchase warrant [2]. - Each whole warrant allows the holder to purchase an additional share at an exercise price of $0.08 for 36 months from issuance [2]. - An acceleration clause is included, allowing the company to expedite the expiry of warrants if the share price exceeds $0.15 for 10 consecutive days after 18 months [3]. Group 2: Use of Proceeds - The company plans to allocate approximately 40% of the proceeds for mining concession fees, another 40% for exploration fees, and the remaining 20% for general working capital [3]. Group 3: Regulatory and Compliance - All securities issued will be subject to a hold period of four months and one day from the issuance date, in accordance with applicable securities laws [5]. - The completion of the offering is contingent upon receiving necessary regulatory approvals, including from the TSX Venture Exchange [5]. Group 4: Company Overview - Vortex Metals Inc. focuses on copper-gold exploration and development, holding interests in projects in Chile and Mexico, including the Illapel Copper Project and two drill-ready properties in Oaxaca [7].