Vortex Energy Corp. Initiates Private Placement for Growth
Vortex Energy Corp. to Launch Exciting Private Placement
Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) is taking significant steps towards growth and expansion by announcing a non-brokered private placement. This strategic initiative aims to raise capital, allowing the company to pursue its ambitious plans efficiently.
Details of the Private Placement
The upcoming private placement will consist of a minimum of 2,190,000 common shares, with a maximum allocation of 4,000,000 shares. Set at an attractive issue price of $0.25 per share, this initiative aims for a minimum gross acquisition of $547,500, with the potential to reach up to $1,000,000. Such funding will enhance Vortex's operational capabilities and propel its exploration ventures forward.
Timeline and Uses of Proceeds
Expected to close around May 22, 2025, the private placement's completion is contingent on acquiring the necessary regulatory approvals. Vortex plans to use the net proceeds to fund exploration activities at its Robinson River Salt and Fire Eye Projects, alongside addressing general administrative costs and varying working capital needs. This multi-faceted use of funds is pivotal for maximizing their operational impact.
Offering Under Regulatory Guidelines
The placement will strictly adhere to National Instrument 45-106 regulations. It allows the common shares to be offered for sale to residents across most provinces in Canada, excluding Quebec. Importantly, shares issued will not be subject to resale restrictions, adding an attractive aspect to potential investors.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration-focused company engaged primarily in acquiring, exploring, and developing mineral properties in North America. The company is currently working on its Robinson River Salt Project, which covers 23,500 hectares with 942 claims. Located approximately 35 kilometers south of Stephenville, Newfoundland & Labrador, this project is poised for salt and hydrogen cavern storage development. Furthermore, Vortex is making strides with its Fire Eye Uranium Property situated in the renowned Athabasca Basin, known for its rich uranium abundance.
Contact Information
If you have any inquiries or wish to learn more, please reach out to:
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com
Frequently Asked Questions
What types of projects is Vortex Energy focusing on?
Vortex Energy is involved in the exploration and development of mineral properties, particularly salt and uranium deposits.
What is the purpose of the private placement?
The primary aim is to raise capital for exploration activities and operational expenses to enhance growth.
How many shares are being offered in the private placement?
A minimum of 2,190,000 shares and up to 4,000,000 shares are being offered in this private placement.
What is the expected closing date of the placement?
The private placement is anticipated to close on or around May 22, 2025, pending necessary approvals.
Who should interested investors contact for more information?
Investors can reach out to Paul Sparkes, the CEO of Vortex Energy, using the contact details provided.
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