Vortex Announces Proposed Share Consolidation
21 März 2025 - 12:34AM
Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3)
(“
Vortex” or the “
Company”)
announces a proposed consolidation of the common shares of the
Company (the “
Common Shares”) on the basis of ten
(10) pre-consolidation Common Shares for one (1) post-consolidation
Common Share (the “
Consolidation”).
The Company currently has 82,810,561 Common
Shares issued and outstanding, and following the Consolidation,
will have approximately 8,281,056 Common Shares issued and
outstanding, prior to rounding of fractional Common Shares. No
fractional Common Shares will be issued as a result of the proposed
Consolidation. Any fractional Common Shares resulting from the
proposed Consolidation will be rounded up in the case of a
fractional interest that is one-half (1/2) of a Common Share or
greater, or rounded down in the case of a fractional interest that
is less than one-half (1/2) of a Common Share, to the nearest whole
number of Common Shares, and no cash consideration will be paid in
respect of fractional Common Shares rounded down to the nearest
whole Common Share.
The Company will issue a subsequent news release
following its filing of all necessary documentation with the
Canadian Securities Exchange (“CSE”) in respect of
the proposed Consolidation to announce the effective date of the
Consolidation, the new CUSIP and ISIN for the post-Consolidation
Common Shares, and any other relevant details. The
post-Consolidation Common Shares will continue to trade on the CSE
under the Company's existing name and trading symbol. The
Consolidation is subject to the approval of the CSE.
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 Robinsons
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
currently advancing its Fire Eye Uranium Property in the Athabasca
Basin, a region renowned for its uranium deposits.
On Behalf of the Board of
Directors
Paul SparkesChief 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
proposed Consolidation, including the ratio thereof. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information, included in this press release, the assumption that
the Canadian Securities Exchange will not object to the proposed
Consolidation and that the Consolidation will be completed as
currently anticipated. 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, among other things, that the Canadian Securities
Exchange may object to the proposed Consolidation and use its
discretion to prohibit the proposed Consolidation; that the
Consolidation may not be completed by the Company; and that the
board of directors of the Company retains discretion over the terms
and implementation of the Consolidation. 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.
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