Vortex Metals extends private placement deadline to May 30

Vortex Metals Inc. (TSXV: VMS) has applied to the TSX Venture Exchange for a further extension to May 30, 2026 to complete the second tranche of its non-brokered private placement, according to a company statement.

The Vancouver-based exploration company plans to complete the second tranche within the next week and a half. The private placement offers units at $0.05 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant.

Each warrant can be exercised into one common share at $0.06 per warrant for three years from issuance. The warrants include an acceleration clause that allows the company to shorten the expiry period to 30 days if the stock price reaches or exceeds $0.20 for 10 consecutive trading days after 12 months from issuance.

Vortex intends to use proceeds from the second tranche for exploration activities at its Illapel Copper-Silver Project in Chile and general working capital purposes. The company holds an option to acquire up to 80% interest in the Illapel project.

Completion of the second tranche requires additional subscriptions and regulatory approvals, including TSX Venture Exchange approval. Securities issued will be subject to a four-month and one-day hold period following issuance.

The company previously announced extensions for this private placement in March and April 2026. Vortex also owns copper-gold properties in Mexico through its subsidiary Empresa Minera Acagold.

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