Vortex Metals closes second tranche of financing

Executive Summary

• Vortex Metals Inc. has closed the second tranche of its upsized non-brokered private placement, raising $105,000 in gross proceeds.
• The company has now raised a total of $805,000 through the sale of 20,125,000 units across two tranches.
• Proceeds are designated for mining concession fees (40%), exploration fees (40%), and general working capital (20%).

Key Details

• Transaction Structure: Non-brokered private placement, second tranche.
• Units Issued: 2,625,000 units.
• Price Per Unit: $0.04 CAD.
• Gross Proceeds (Tranche 2): $105,000.
• Total Gross Proceeds (All Tranches): $805,000.
• Total Units Issued (All Tranches): 20,125,000 units.
• First Tranche Details: Closed on Oct. 6, 2025; raised $700,000 via 17,500,000 units.
• Warrant Terms: Each unit includes one common share and one-half of one share purchase warrant. Each whole warrant is exercisable into one additional share at $0.08 per share.
• Warrant Expiry: 36 months from issuance.
• Acceleration Clause: The company may accelerate warrant expiry 18 months after issuance if the share trading price exceeds $0.15 for 10 consecutive trading days.
• Use of Proceeds: ~40% for mining concession fees, ~40% for exploration fees, and 20% for general working capital.
• Hold Period: Securities are subject to a hold period expiring on Feb. 22, 2026.
• Regulatory Status: Subject to final acceptance by the TSX Venture Exchange.
• Fees: No finders' fees were paid for the second tranche.