Vortex Metals closes second tranche raising $105,000 in private placement

Vortex Metals Inc. (TSXV: VMS) completed the second tranche of its non-brokered private placement, issuing 2,625,000 units at $0.04 per unit for gross proceeds of $105,000, according to a company statement.

The Vancouver-based copper exploration company previously closed the first tranche on October 6, 2025, raising $700,000 through the sale of 17,500,000 units. Combined, the company has raised $805,000 through the sale of 20,125,000 units under the offering.

Each unit consists of one common share and one-half of a share purchase warrant. The warrants are exercisable at $0.08 per warrant for 36 months from issuance. The company may accelerate the warrant expiry date if share trading prices exceed $0.15 for 10 consecutive trading days after 18 months from issuance.

Vortex plans to allocate the second tranche proceeds as follows: 40% for mining concession fees, 40% for exploration fees, and 20% for general working capital purposes.

The securities are subject to a hold period expiring February 22, 2026, and require final acceptance from the TSX Venture Exchange. No finder's fees were paid for the second tranche.

Vortex operates copper exploration projects in Chile and Mexico, including an option to acquire up to 80% interest in the Illapel Copper Project in Chile and 100% ownership of two copper-gold properties in Oaxaca, Mexico through its subsidiary Empresa Minera Acagold, S.A. de C.V.

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