Vortex Energy Corp. Announces Letter Agreement for Acquisition of Blue Ocean Salt Corp.
VORTEX ENERGY CORP. ANNOUNCES LETTER AGREEMENT FOR ACQUISITION OF
BLUE OCEAN SALT CORP.
March 7, 2023
Vancouver, British Columbia — Vortex Energy Corp. (CSE: VRTX) (" Vortex” or "Company") is
pleased to announce that it has entered into a binding letter agreement ( “Letter Agreement”) to
acquire all of the issued and outstanding common shares of Blue Ocean Salt Corp. (“ BOSC”),
which owns a 100% interest in and to the Robinsons River Salt Prope rty (“Property”) located in
the Bay St. George region of southwestern Newfoundland. The Property consists of four
contiguous mineral licenses and is comprised of 687 claims.
The transaction (“ Transaction”) is expected to proceed by way of a series of sha re purchase
transactions between the Company and each of the shareholders of BOSC (“ BOSC
Shareholders”). The consideration payable by the Company for each BOSC share is two-thirds-
of-one (2/3) common share of the Company.
The parties intend to complete the Transaction as soon as practicable and, subject to satisfactory
completion of closing conditions, including receipt of any necessary approvals, will use
commercially reasonable efforts to enter into a definitive agreement with each BOSC Shareholder
by the end of March 2023.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition,
exploration, and development of mineral properties in North America. Its flagship asset, The Fire
Eye Project, is lo cated in the Wollaston Domain of northern Saskatchewan, Canada. The
Company is working to advance this project while continuing to assess other energy metal
properties
On Behalf of the Board of Directors
Kirk Hollohan
Chief Executive Officer, Director
+1 (778) 819-0164
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. These statements relate to future events or future
performance. All statements other than statements of historical fact may be forward -looking
statements or information. In certain cases, forward -looking statements can be identified by the
use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”,
“forecasts”, “intends”, “anticipates”, “believ es” or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or
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“achieve”. Forward-looking statements in this news release may include, but are not limited to,
entering into a d efinitive agreement regarding the Transaction, the issuance of the Company
Shares, and closing the Transaction.
Forward-looking statements and information are provided for the purpose of providing information
about the current expectations and plans of ma nagement of the Company relating to the future.
Readers are cautioned that reliance on such statements and information may not be appropriate
for other purposes, such as making investment decisions. Since forward-looking statements and
information address future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from those currently anticipated due to a
number of factors and risks. Accordingly, readers should not place undue reliance on the forward-
looking statements and information contained in this news release. Readers are cautioned that
the foregoing list of factors is not exhaustive. The forward - looking statements and information
contained in this news release are made as of the date hereof and no undertaking is given to
update publicly or revise any forward -looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable securities laws. The
forward-looking statements or information contained in this news release are expressly qualified
by this cautionary statement.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the
contents of this press release.