Vortex Metals Closes Second Tranche of Upsized Non-Brokered Private Placement

Executive Summary

• Vortex Metals closed a second tranche of its non‑brokered private placement, issuing 2,625,000 units at $0.04 per unit for gross proceeds of $105,000.
• Combined with the first tranche, total funds raised to date equal $805,000 from the sale of 20,125,000 units.
• Proceeds are earmarked ≈ 40% for mining concession fees, ≈ 40% for exploration fees, and ≈ 20% for general working capital; units include common shares plus half‑share purchase warrants exercisable at $0.08 per share.

Key Details

• Units Issued – Second Tranche: 2,625,000 units @ $0.04/unit → Gross proceeds: $105,000.
• Total Offering to Date: 20,125,000 units sold for aggregate gross proceeds: $805,000 (first tranche: 17,500,000 units for $700,000).
• Unit Composition: 1 common share + ½ warrant per unit. Each whole warrant can be exercised for one additional share at $0.08, valid for 36 months from issuance.
• Warrant Acceleration Clause: Company may accelerate expiry if Vortex’s share price exceeds $0.15 for ten consecutive trading days, effective after 18 months from issuance.
• Use of Proceeds (Second Tranche):
• ~40% mining concession fees
• ~40% exploration fees
• ~20% general working capital
• Hold Period: Securities subject to a lock‑up expiring 22 Feb 2026; additional securities law restrictions may apply.
• Regulatory Status: Second tranche pending final acceptance by the TSX Venture Exchange (TSXV). No finders’ fees were paid.
• U.S. Offering Restrictions: Units not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption or registration.

Notable Quotes

(No direct quotes included in the release.)