Vortex Energy has entered into an asset purchase agreement to acquire a 100% interest in the Meadows Project in west-central Saskatchewan for C$255,000 in cash, securing a 21,609-hectare property prospective for potential salt cavern energy storage.

The transaction covers Saskatchewan Subsurface Mineral Permit #SMP273 across 338 Crown parcels near the Alberta border. The permit targets subsurface mineral rights within the Elk Point Group, a geological succession featuring thick salt-bearing intervals documented in historical wells surrounding the area. While regional evidence provides an encouraging foundation, the presence, thickness, continuity and quality of salt beneath the permit, and its suitability for cavern development, remain unconfirmed and will require further exploration.

Under the terms of the agreement, the company will assume permit-associated obligations including annual rental rates of approximately $43,219 for years one through five and approximately $108,047 for years six through eight. Vortex Energy also commits to an exploration work program totaling approximately $9.81 million over an eight-year period commencing July 14, 2026, while leaving all other liabilities with vendor Global Strategic Minerals Corp.

The acquisition is expected to close on or about October 1, 2026, pending customary closing conditions, regulatory consents and the official registration of the permit transfer.

The Saskatchewan project expands Vortex Energy's portfolio alongside its Robinsons River Salt Project in Newfoundland and Labrador, where the company is advancing salt and hydrogen storage evaluations supported by a planned ground gravity survey managed by Lonquist Field Service (Canada), ULC.

Read the full announcement: Vortex Energy Enters Into Asset Purchase Agreement to Acquire the Meadows Project in Saskatchewan