Vortex Energy Corp Update: Debenture Conversions Announced
Vortex Energy Corp. Advances with Debenture Conversions
Vortex Energy Corp. (CSE: VRTX) is making significant strides in its financial strategy by announcing the conversion of its outstanding unsecured convertible debentures. This step showcases the company’s commitment to optimizing its capital structure while preparing for future growth.
Details of the Conversion
The debentures, which were issued on January 28, 2025, for a total principal amount of C$400,000, carried an interest rate of 10% per annum. As of June 3, 2025, this interest accrued to a total of C$413,916.36. To fulfill this obligation, Vortex Energy will issue a total of 1,061,324 units at a conversion price of C$0.39 per unit. Each unit will include one common share and a warrant, enabling the holder to acquire another common share at C$0.43 within a two-year period following issuance.
Impact on Shareholders
This conversion process reflects a strategic move to strengthen Vortex's equity base while providing an opportunity for current debenture holders to participate in the company's growth. The acceptance of these conversions is subject to necessary regulatory approvals, including those from the Canadian Securities Exchange (CSE).
About Vortex Energy Corp.
Vortex Energy Corp. is focused on the exploration and development of mineral properties across North America. Among its key projects is the Robinson River Salt Project, encompassing 942 claims over 23,500 hectares in Newfoundland & Labrador. This project shows potential for both salt and hydrogen cavern storage. Additionally, the company is advancing its initiatives at the Fire Eye Uranium Property located in the Athabasca Basin, known for its rich uranium deposits.
Commitment to Transparency and Growth
As part of its ongoing efforts to keep stakeholders informed, Vortex Energy emphasizes its dedication to transparency and prudent management in navigating market conditions. The company reassures investors that it is actively working towards fulfilling all required regulations while capitalizing on the opportunities ahead.
Contact Details
For any inquiries or further information, please reach out to:
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com
Frequently Asked Questions
What are the key details of the debenture conversion by Vortex Energy?
The conversion involves the issuance of units at a price of C$0.39 per unit, including shares and warrants, totaling 1,061,324 units.
How does the conversion impact existing shareholders?
This move strengthens the company’s equity and allows debenture holders to receive common shares, potentially benefiting from future growth.
What projects is Vortex Energy currently focused on?
The company is advancing the Robinson River Salt Project and the Fire Eye Uranium Property, enhancing its mineral exploration portfolio.
When was the debenture issued?
The debentures were issued on January 28, 2025, with an interest accrued until June 3, 2025.
Who should be contacted for more information?
Inquiries can be directed to Paul Sparkes, CEO, via the provided email or phone contact.
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