Vortex Metals names new president, launches C$1M private placement

Vortex Metals Inc. (TSXV: VMS) (OTCQB: VMSSF) has appointed Thibault White as president, effective immediately, and announced a non-brokered private placement of up to C$1,000,000, according to a company statement.

White previously served as a partner with Apollo Corporate Finance in Frankfurt, where he advised on mergers and acquisitions, strategic financing, and capital raising. He has also held senior roles at Swiss Life Asset Managers and DTZ Asset Management. Concurrently, Vikas Ranjan has transitioned to the role of executive vice president of corporate development.

The private placement will consist of up to 20,000,000 units priced at C$0.05 per unit. Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional common share at C$0.06 for three years from issuance.

The warrants include an acceleration clause: after 12 months from issuance, if the company's shares close at or above C$0.20 for 10 consecutive trading days on a Canadian exchange, the company may accelerate warrant expiry, giving holders 30 calendar days to exercise.

The new offering replaces a previously announced private placement from March 9, 2026, of which the first tranche closed April 8, 2026. The remaining balance of that financing has been cancelled. Proceeds will fund exploration in Chile and Mexico, corporate development, and general working capital.

The company also completed a shares-for-debt transaction with Windows Minerals SCM, issuing 2,070,000 common shares at C$0.05 per share as an option payment for the Illapel Copper project. Those shares are subject to a hold period expiring October 25, 2026.

Both the offering and White's appointment remain subject to TSX Venture Exchange approval. All securities issued will carry a statutory hold period of four months and one day from issuance.

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