Vortex Metals increases private placement

Executive Summary

• Vortex Metals Inc. increased its non‑brokered private placement from up to 15 M units to up to 17.5 M units at $0.04 per unit.
• Each unit includes one common share and half of a common share purchase warrant (full warrant exercisable at $0.08 for 36 months).
• Gross proceeds will be allocated ~40% to mining concession fees, ~40% to exploration fees, and ~20% to general working capital.

Key Details

• Placement Size: Up to 17.5 million units (previously up to 15 M).
• Price per Unit: $0.04.
• Unit Composition: 1 common share + ½ of a common share purchase warrant.
• Warrant Terms: Full warrant allows purchase of one additional share at $0.08 per share, exercisable for 36 months from issuance.
• Acceleration Clause: If, after 18 months, the share price exceeds $0.15 for 10 consecutive days, the company may accelerate warrant expiry.
• Hold Period: All securities subject to a hold period of four months and one day from issuance.
• Use of Proceeds:
• ~40% for mining concession fees.
• ~40% for exploration fees.
• ~20% for general working capital.
• Finders’ Fees: May be paid in cash and non‑transferable share purchase warrants, subject to TSX‑V policies.
• Regulatory Conditions: Completion and payment of finders’ fees contingent on receipt of all required regulatory approvals, including TSX‑V approval.
• Closing Structure: Offering may close in multiple tranches as subscriptions are received.

Notable Quotes

(No direct quotes provided in the release.)