08:12 AM EST, 01/10/2025 (MT Newswires) -- Vortex Metals ( VMSSF ) on Friday announced a non-brokered private placement of up to $1 million comprising 12.5 million units at $0.08 apiece.

Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable into one common share at $0.12 per warrant for a two-year period from the date of issuance.

Vortex intends to use proceeds for exploration activities at the company's Illapel Copper Project in Chile and for general working capital purposes.

All the securities will be subject to a hold period of four months and one day from the date of issuance.

Shares of the company closed flat at $0.080 on Thursday on the TSX Venture Exchange.