Vortex Closes Flow-Through Portion of Private Placement for Gross Proceeds of C$1M
2023年12月23日 - 7:35AM
Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
("
Vortex” or the "
Company") is
pleased to announce that it has closed the “flow-through” portion
of its previously announced non-brokered private placement (the
“
FT Offering”) for gross proceeds to the Company
of C$999,490.28. The Company expects to close the non-flow-through
portion of its previously announced non-brokered private placement
(the “
Non-FT Offering”) on or about December 29,
2023. For further details about the Non-FT Offering, please see the
Company’s news release dated November 28, 2023
Pursuant to the FT Offering, the Company issued
2,324,396 units of the Company at a price of $0.43 per unit (each,
a “Flow-Through Unit”), with each Flow-Through
Unit comprised of one flow-through common share (each, a
“FT Share”) and one non-flow-through common share
purchase warrant of the Company entitling the holder to acquire one
non-flow-through common share at a price of $0.55 until December
22, 2025. The FT Shares issued under the Offering are intended to
qualify as “flow through shares” within the meaning of the Income
Tax Act (Canada) (the “Tax Act”).
The gross proceeds from the sale of the FT
Shares will be used to incur “Canadian exploration expenses” that
are intended to qualify as “flow-through mining expenditures” as
those terms are defined in the Tax Act, which the Company intends
to renounce to the purchasers of the FT Shares. All securities
issued in connection with the closing of the FT Offering are
subject to a statutory hold period, in accordance with applicable
securities laws, expiring on April 23, 2024.
In connection with the FT Offering, the Company
paid cash finder’s fees totalling C$43,732 and issued a total of
162,707 finder’s warrants entitling the holder thereof to acquire
one non-flow-through common share at an exercise price of C$0.55
until December 22, 2025.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any securities in the
United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Vortex Energy Corp.
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 Robinsons River Salt Project is
prospective for both salt and hydrogen salt cavern storage. The
Company is also evaluating technologies to efficiently store
hydrogen or energy in salt caverns. Vortex also holds the Fire Eye
Project, which is located in the Wollaston Domain of northern
Saskatchewan, Canada.
On Behalf of the Board of
DirectorsPaul Sparkes Chief Executive Officer, Director +1
(778) 819-0164info@vortexenergycorp.com
Cautionary Note Regarding
Forward-Looking Statements
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.
In particular, this press release contains
forward-looking information relating to, among other things, the FT
Offering, including the expected use of proceeds from the FT
Offering and the expectation that the FT Shares will qualify as
flow-through shares as defined in the Tax Act, and the Non-FT
Offering, including the expected closing date of the Non-FT
Offering. Various assumptions or factors are typically applied in
drawing conclusions or making the forecasts or projections set out
in forward-looking information, including the assumption that the
Company will use the proceeds of the FT Offering as currently
anticipated and that the Company ill be successful in completing
the Non-FT Offering on the timeline currently anticipated. Those
assumptions and factors are based on information currently
available to the Company. Although such statements are based on
reasonable assumptions of the Company’s management, there can be no
assurance that any conclusions or forecasts 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 Company does not use the
proceeds from the FT Offering as currently expected, and the
associated risks arising from such decision, including that the
Company may be required to make payments to investors in the FT
Offering and others as a result of a determination by the Company
not to utilize the gross proceeds raised from the FT Offering for
eligible “Canadian exploration expenses” that qualify as
“flow-through mining expenditures” within the meaning of the Tax
Act; the risk that the FT Shares do not qualify as flow-through
shares as defined in the Tax Act; the risk that the Company is
unsuccessful at closing the Non-FT Offering, on the timeline
currently anticipated or at all; risks inherent in the exploration
and development of mineral deposits, including risks relating to
receiving requisite permits and approvals, changes in project
parameters or delays as plans continue to be redefined, that
mineral exploration is inherently uncertain and that the results of
mineral exploration may not be indicative of the actual geology or
mineralization of a project; that mineral exploration may be
unsuccessful or fail to achieve the results anticipated by the
Company; that mineral exploration activities are often
unsuccessful; risks relating to changes in mineral prices and the
worldwide demand for and supply of minerals; and regulatory risks,
including risks relating to the acquisition of the necessary
licenses and permits. The forward-looking information contained in
this release is made as of the date hereof, and the Company is not
obligated to update or revise any forward-looking information,
whether as a result of new information, 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.
The Canadian Securities Exchange has not
reviewed, approved, or disapproved the contents of this press
release.
Vortex Energy (TG:AA3)
過去 株価チャート
から 4 2024 まで 5 2024
Vortex Energy (TG:AA3)
過去 株価チャート
から 5 2023 まで 5 2024