Vortex Energy Enters Into Asset Purchase Agreement to Acquire the Meadows Project in Saskatchewan

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VANCOUVER, British Columbia, Sept. 17, 2026 (GLOBE NEWSWIRE) — Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) (FSE: AA3) (“Vortex” or the “Company”) is pleased to announce that it has entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Global Strategic Minerals Corp. (the “Vendor”), pursuant to which the Company will acquire (the “Transaction”) the Purchased Assets (as defined below) comprising the Meadows Project (the “Project”) located in west-central Saskatchewan near the Alberta border (the “Meadows Project”).

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The Meadows Project is represented by Saskatchewan Subsurface Mineral Permit #SMP273 (the “Permit”). Under the Asset Purchase Agreement, the Company will acquire 100% of the Vendor’s interest in the Permit, all transferable technical information relating to the Meadows Project and all transferable governmental authorizations relating to the Permit (collectively, the “Purchased Assets”).

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Transaction Terms

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The purchase price for the Purchased Assets is C$255,000, payable in cash by the Company to the Vendor at closing. Upon closing, the Company will assume only those obligations that, as a matter of applicable law must accompany the Permit including an annual rental rate of approximately $43,219 during Permit years one through five and approximately $108,047 during Permit years six through eight, and a work commitment of approximately $9.81 million over the next eight years, commencing July 14, 2026. Except for such assumed obligations, the Company will not assume any liabilities of the Vendor.

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The Transaction is expected to close on or about October 1, 2026, subject to the satisfaction or waiver of customary closing conditions set out in the Asset Purchase Agreement.

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Completion of the Transaction remains subject to customary closing conditions, including receipt of all required governmental, regulatory and third-party approvals and consents, approval and registration of the transfer of the Permit, delivery of customary closing documents, the accuracy of the parties’ representations and warranties, performance of their respective covenants, and the Purchased Assets being transferred free and clear of all encumbrances, except for permitted encumbrances. There can be no assurance that the Transaction will be completed on the terms contemplated in the Asset Purchase Agreement or at all.

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Project Highlights

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The Meadows Project comprises approximately 21,609 hectares across 338 Crown parcels in northwestern Saskatchewan, near the Alberta border. The Permit covers Crown subsurface mineral rights within the Elk Point Group, a geological succession containing thick salt-bearing intervals documented in historical wells surrounding the Project. This regional evidence provides an encouraging basis to explore the Project for salt with potential applications for compressed air energy storage and hydrogen storage. Nearby Cold Lake provides an established energy-industry and regional service centre, while Highway 919 and regional resource roads provide potential access to the Project, with Meadow Lake serving as a regional logistics centre. The presence, thickness, continuity and quality of salt beneath the Permit, and its suitability for cavern development, remain unconfirmed. Further exploration and technical work will be required to evaluate the Project’s potential.