Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

VORTEX METALS INC. (FORMERLY, VICTORY CAPITAL CORP.) ANNOUNCES FINAL EXCHANGE BULLETIN AND COMMENCEMENT OF TRADING

/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES./

TORONTO, May 9, 2022 /CNW/ - Vortex Metals Inc. (formerly, Victory Capital Corp. ("Victory")) (TSXV: VMS) (the "Company" or the "Resulting Issuer") is pleased to announce that the TSX Venture Exchange (the "TSXV") has published its final exchange bulletin in connection with the Company's previously announced qualifying transaction (the "Qualifying Transaction") resulting in the reverse takeover of the Company by Acapulco Gold Corp. ("Acapulco"), a private company incorporated under the laws of the Province of British Columbia. For additional information regarding the Qualifying Transaction, see the Company's news release dated April 27, 2022 and the filing statement of the Company dated March 31, 2022 (the "Filing Statement"), a copy of which is available under the Company's profile on SEDAR at www.sedar.com.

Trading in the Company's common shares ("RI Common Shares") on the TSXV is expected to commence at market open on May 10, 2022.

Early Warning Report

The transaction that triggered the requirement to file the below enumerated report was the Qualifying Transaction, as more fully described in the Filing Statement filed on the Company's SEDAR profile. The early warning report dated May 9, 2022 described below was filed under the Company's profile on SEDAR at www.sedar.com.

Paradex Inc.

Pursuant to the terms of the Qualifying Transaction, Paradex Inc. ("Paradex") with an address for service at 4545 E Coronado Ridge Ln, acquired 9,545,444 RI Common Shares on April 27, 2022, in exchange for securities of Acapulco previously held by Paradex on the same basis as all other prior security holders of Acapulco.

As a result of the Qualifying Transaction and in connection with the exchange of Acapulco securities for securities of the Company, Paradex acquired direct and indirect ownership and control of 9,545,444 RI Common Shares, representing approximately 15.89% of the issued and outstanding RI Common Shares on a non-fully diluted basis as of the date of the closing of the Qualifying Transaction. Prior to the Qualifying Transaction, neither Paradex nor any joint actor had ownership or control of any securities of the Company. The RI Common Shares acquired by Paradex were issued from treasury pursuant to the Qualifying Transaction for deemed consideration per RI Common Share of $0.20, for an aggregate deemed consideration paid of approximately C$1,909,089.

Paradex holds the RI Common Shares for investment purposes and does not have any current intentions to increase or decrease his beneficial ownership or control or direction over any additional securities of the Company. As disclosed in the Filing Statement, the RI Common Shares held by Paradex (the "Escrowed Securities") are subject to a value security escrow agreement in accordance with Policy 5.4 – Escrow, Vendor Consideration and Resale Restrictions of the Exchange ("Escrow Agreement"). Upon release of the Escrowed Securities from escrow pursuant to the Escrow Agreement, Paradex may, from time to time and depending on market and other conditions, acquire additional RI Common Shares and/or other equity, debt or other securities or instruments of the Company in the open market or otherwise, and reserves the right to dispose of any or all of the securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors (in accordance with the terms of the Escrow Agreement).

About Vortex Metals Inc.

Vortex Metals Inc. is the parent company of Mexican subsidiary Empresa Minera Acagold, S.A. de C.V., which is the owner of a 100% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (VMS) properties (Riqueza Marina and Zaachila) in the state of Oaxaca, and a third high-potential gold property (El Rescate) in the state of Puebla. The Oaxaca projects incorporate the most highly prospective areas of high-grade copper mineralized surface exposures ('gossans') and prominent gravity anomalies along an emerging copper-gold VMS belt that includes Minaurum Gold's Santa Marta project.

Disclaimer

Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this news release.

Neither the Exchange nor its Regulation Service Provider (as defined policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Forward-Looking Statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Filing Statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Share numbers noted in this press release may not match the numbers disclosed in the Filing Statement due to rounding pursuant to the process of completing the consolidations described above and the exchange of Acapulco securities for post-consolidation common shares, as well adjustment based on the aggregate amount of interest on the Acapulco convertible notes (which is calculated on a daily basis), accrued up to the actual date of conversion.

SOURCE Vortex Metals Inc. (formerly, Victory Capital Corp.)

Cision View original content: http://www.newswire.ca/en/releases/archive/May2022/09/c8696.html