Vortex Metals Closes Upsized Non-Brokered Private Placement
Vortex Metals Closes Upsized Non-Brokered
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 6, 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 September 11, 2025 and September 30, 2025, it has closed its previously
announced non-brokered private placement (the "
Offering
"), whereby the Company has completed the
issuance of 17,500,000 units (each, a "
Unit
") at a price of $0.04 per Unit for gross proceeds of
$700,000.
Each Unit consists of one common share in the capital of the Company (a "
Share
") and one-half of one
Share purchase warrant (each whole warrant, a "
Warrant
"). Each whole Warrant is exercisable into one
additional Share at a price of $0.08 per Warrant for a period of 36 months from the date of issuance.
Eighteen months after the date of issuance of the Warrants, the Company will have the right to
accelerate the expiry date of the Warrants if the trading price of the Shares exceeds $0.15 for a period
of 10 consecutive trading days. No finders' fees were paid in connection with the Offering.
Vortex intends to use the gross proceeds of the Offering as follows: approximately 40% to pay for mining
concession fees, approximately 40% to pay for exploration fees and the remaining 20% for general
working capital purposes.
Certain directors of the Company (the "
Interested Parties
") purchased or acquired direction or control
over a total of 2,200,000 Units as part of the Offering. The placement to the Interested Parties constituted
a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions ("
MI 61-101
"). Notwithstanding the foregoing, the directors of
the Company have determined that the Interested Parties' participation in the Offering will be exempt
from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the
exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material
change report 21 days prior to the closing of the Offering as the details of the participation of the
Interested Parties had not been confirmed at that time.
All securities issued with respect to the Offering are subject to a hold period expiring on February 7,
2026, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions
outside Canada. The Offering remains subject to final acceptance from the TSX Venture Exchange (the
"
TSXV
").
None of the securities sold in connection with the Offering 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-gold 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 Offering and the receipt of final regulatory approval from the TSXV.
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, that the Company will not receive the required regulatory
approvals or approval from the TSXV in connection with the Offering and that the Company will not
use the proceeds of the Offering as currently anticipated.
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
Offering as currently anticipated and that the Company will receive approval from the TSXV in
connection with the Offering. 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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/269379