Vortex Metals has closed the first tranche of its non-brokered private placement, raising gross proceeds of $485,500 to fund exploration work at its copper and gold assets in Chile and Mexico.

The financing involved the issuance of 9,710,000 units at a price of $0.05 per unit. Each unit consists of one common share and one-half of a common share purchase warrant. Whole warrants can be exercised at $0.06 per share for a period of three years. The warrants are subject to an acceleration provision allowing Vortex to shorten the expiry date to 30 calendar days if the company's common shares trade at or above $0.20 on any Canadian exchange for 10 consecutive trading days after 12 months from issuance.

In connection with the closing, Vortex paid $9,600 in cash commissions and issued 192,000 non-transferable finder's warrants. Each finder's warrant allows the holder to purchase one common share at $0.06 for 36 months, subject to the same acceleration terms. All securities issued under this tranche are subject to a statutory hold period expiring on December 12, 2026. The offering remains subject to final acceptance from the TSX Venture Exchange.

The proceeds will be allocated toward advancing exploration at the company's projects, pursuing corporate development initiatives, and supporting general working capital.

Vortex holds an option to acquire up to an 80 percent interest in the Illapel Copper Project in Chile. Through its Mexican subsidiary Empresa Minera Acagold, the company owns a 100 percent interest in two copper-gold volcanogenic massive sulfide properties, Riqueza Marina and Zaachila, in Oaxaca, Mexico. Meanwhile, regional copper activity in Chile saw Southern Hemisphere Mining report drilling results from its Llahuin copper project in August 2026, intersecting 241 metres at 0.42 percent copper equivalent.

Read the full announcement: Vortex Metals Closes First Tranche of Non-Brokered Private Placement