Vortex Metals Closes Second and Final Tranche of Non-Brokered Private Placement
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.
Contact Information:
Vikas Ranjan, President and CEO
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 news release.
Forward-Looking Statements
This release includes statements and information that may constitute forward-looking information
within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future
events or future performance and reflect the expectations or beliefs of management of the Company
regarding future events. Generally, forward-looking statements and information can be identified by
the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words
and phrases or statements that certain actions, events or results "may", "could", "should", "would" or
"occur". This information and these statements, referred to herein as "forward-looking statements", are
not historical facts, are made as of the date of this news release and include without limitation,
statements regarding discussions of future plans, estimates and forecasts and statements as to
management's expectations and intentions with respect to, among other things, the intended use of
proceeds raised under the Second Tranche.
These forward-looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward-looking statements. These risks and
uncertainties include, among other things, changes in the Company's business plans impacting the
intended use of proceeds raised under the Second Tranche.
In making the forward looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that the Company will use the proceeds of the
Second Tranche as currently anticipated. Although management of the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Readers are cautioned that reliance on
such information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information or financial outlook that are
incorporated by reference herein, except in accordance with applicable securities laws.
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