Vortex Metals Announces Second Tranche of Non-Brokered Private Placement

Executive Summary

• Vortex Metals Inc. announces a second tranche private placement of up to 2,825,000 units at $0.04 per unit, targeting gross proceeds of approximately $105,000.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant gives the right to buy one additional share at $0.08 for 36 months).
• Proceeds will be allocated roughly 40% to mining concession fees, 40% to exploration expenses, and 20% to general working capital.

Key Details

• Units Offered: Up to 2,825,000 (maximum of 2,625,000 units at $0.04 each).
• Price per Unit: $0.04 → Gross Proceeds Target: ~$105,000.
• Unit Composition:
• 1 common share.
• ½ of a common‑share purchase warrant (full warrant = right to buy 1 additional share at $0.08).
• Warrant Terms:
• Exercise price: $0.08 per share.
• Expiry: 36 months from issuance.
• Acceleration clause: If, after 18 months, the share price exceeds $0.15 for 10 consecutive days, the expiry may be accelerated.
• Use of Proceeds:
• ~40% – payment of mining concession fees.
• ~40% – payment of exploration fees.
• ~20% – general working capital.
• Finder’s Fees: May be paid in cash and non‑transferable share purchase warrants, subject to TSXV policies.
• Holding Period: All securities subject to a lock‑up expiring four months + one day after issuance.
• Regulatory Conditions: Completion contingent on receipt of all required approvals, including TSXV approval.

Notable Quotes

(No executive quotes were provided in the release.)