Vortex Metals Upsizes Non-Brokered Private Placement

Executive Summary

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

Key Details

• Offering Size: Expanded to a maximum of 17,500,000 units (previously 15,000,000).
• Unit Price: $0.04 per unit.
• Unit Composition: 1 common share + ½ warrant (full warrant = right to purchase one additional share at $0.08).
• Warrant Terms: 36‑month term; acceleration clause allows expiry date to be moved forward if, after 18 months, the share price exceeds $0.15 for ten consecutive days.
• 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/or non‑transferable share purchase warrants, subject to TSXV policies.
• Holding Period: All securities issued are subject to a lock‑up of four months and one day from issuance.
• Regulatory Conditions: Completion and payment of any finders’ fees contingent upon receipt of all required regulatory approvals, including TSXV approval.
• Closing Structure: Offering may close in multiple tranches as subscriptions are received.

Notable Quotes

(No direct quotes were provided in the release.)