NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, April 24, 2025 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) (FSE: AA3) (“Vortex& or the “Company&) announces that it intends to complete a non-brokered private placement financing (the “Private Placement&) consisting of a minimum of 2,190,000 common shares of the Company (the “Common Shares&) and up to a maximum of 4,000,000 Common Shares at an issue price of $0.25 per Common Share for minimum gross proceeds of $547,500 and maximum gross proceeds of up to $1,000,000. Completion of the Private Placement will be contingent upon the Company issuing a minimum of 2,190,000 Common Shares at a price of $0.25 per Common Share for minimum aggregate proceeds of $547,500.
Closing of the Private Placement is anticipated to occur on or about May 22, 2025. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the Private Placement are intended to be used for exploration activities at the Company&s Robinson River Salt and Fire Eye Projects, for general administrative expenditures and for general working capital purposes.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – ProspectusExemptions (“NI45-106&), the Common Shares issuable under the Private Placement will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Pursuant to NI 45-106, the securities issued to Canadian resident subscribers under the Private Placement will not be subject to resale restrictions.
There is an offering document dated April 24, 2025 related to the Private Placement that can be accessed under the Company&s profile at www.sedarplus.ca and on the Company&s website at www.vortexenergycorp.com. This offering document contains additional details regarding the Private Placement, including details regarding the expected use of proceeds from the Private Placement. Prospective investors should read this offering document before making an investment decision.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
AboutVortexEnergyCorp.
Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. The Company is currently advancing its Robinson River Salt Project comprised of a total of 942 claims covering 23,500 hectares located approximately 35 linear kms south of the town of Stephenville in the Province of Newfoundland & Labrador. The Robinson River Salt Project is prospective for both salt and hydrogen salt cavern storage. The Company is also currently advancing its Fire Eye Uranium Property in the Athabasca Basin, a region renowned for its uranium deposits.
OnBehalfoftheBoardofDirectors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com
CautionaryNoteRegardingForward-LookingStatements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could&, “intend&, “expect&, “believe&, “will&, “projected&, “estimated& and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company&s current belief or assumptions as to the outcome and timing of such future events.
Inparticular,thispressreleasecontainsforward-lookinginformationrelatingto,amongotherthings,the PrivatePlacement,including the number of Common Shares to be issued,totalanticipated proceeds,theexpecteduseofproceeds and theclosing (includingtheproposedclosingdate)ofthePrivatePlacement.Variousassumptionsorfactorsaretypically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumptionthat the Company will close the Private Placement onthe timeline anticipated, will raise the anticipated amount of gross proceeds from the Private Placement and will use the proceeds of the Private Placement as anticipated. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptionsoftheCompany&smanagement,therecanbenoassurancethatanyconclusionsorforecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Private Placement does not close on the timeline expected, or at all; the risk that the Company raises less than the anticipated amount of gross proceeds from the Private Placement; the risk that the Company does not use the proceeds from the Private Placement as currently expected;risksinherentintheexplorationanddevelopmentofmineraldeposits,includingrisksrelatingto changes in project parameters as plans continue to be redefined and the risk that exploration and developmentactivities willcostmorethantheamountbudgetedforsuchactivities bytheCompany; risks relating to changes in mineral prices and the worldwide demand for and supply of minerals; risks related to increased competitionand current global financial conditions; access and supply risks; risks associated with the Company&s reliance on key personnel; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risksrelating to the failure toreceive allrequisiteregulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is notobligatedtoupdateorreviseanyforward-lookinginformation,whetherasaresultofnewinformation, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
TheCanadianSecuritiesExchange(CSE)hasnotreviewed,approved,ordisapprovedthecontentsofthis press release.
