Vertical Exploration Closes Financing

VANCOUVER, BC / October 7th, 2021 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) is pleased to announce that further to its Press Releases dated May 4, 2021, July 14, 2021 & September 8, 2021 the Company has closed its non-brokered private placement. The Company issued 17,651,700 common share units (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $1,765,170.00.

Finder’s fees of $70,056.00 were paid to arm’s length parties.

The shares and warrants comprising the units are subject to a 4 month hold period expiring February 8, 2022.

Proceeds raised from the Offering will be used to advance the Company’s St. Onge project in Quebec and for general working capital.

This offering is subject to TSX Venture Exchange final approval.

ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).