Business
Vortex Energy Announces Proposed Share Consolidation
Vortex Energy Announces Proposed Share
About this update from Vortex Energy Corp.
[{"type":"text","content":"VANCOUVER - 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').\nThe 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.\nThe 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.\nAbout 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.\nContact:\nPaul SparkesChief\nExecutive Office\nTel: +1 (778) 819-0164\nEmail: info@vortexenergyco...