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VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) — Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) (FSE: AA3) (“Vortex” or the “Company”) announces that it has closed its previously announced non-brokered private placement financing (the “Private Placement”) of 4,000,000 common shares in the capital of the Company (the “Common Shares”) at an issue price of C$0.25 per Common Share for aggregate gross proceeds C$1,000,000.
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The net proceeds of the Private Placement are intended to be used to fund exploration activities at the Company’s Robinson River Salt and Fire Eye Projects and general administrative expenditures and for general working capital purposes.
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In accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Common Shares issued under the Private Placement were offered for sale to purchasers resident in all of the provinces of Canada (except Québec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the “LIFE Exemption”). Because the Private Placement was completed pursuant to the LIFE Exemption, the Common Shares issued to subscribers in the Private Placement are not subject to resale restrictions in accordance with applicable Canadian securities laws.
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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 additional detail regarding the expected use of proceeds from the Private Placement.
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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.
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About
Vortex
Energy
Corp.
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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.
English (US)