Vertical Announces Financing Price Increase and Extension

VANCOUVER, BC / May 26th, 2020 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) announces that it is increasing the price of the previously announced private placement (see Press Releases dated January 24, 2020, March 4, 2020 and April 13, 2020) from $0.025 to $0.035 per unit. The Financing is being extended to June 26th, 2020.

The non-brokered private placement at the revised price will consist of up to 19 million units (“Units”) at a price of $0.035 per Unit for aggregate gross proceeds of $665,000.00 (the “Offering”). Each Unit will be comprised of one common share of the Company (“Share”) and one transferable share purchase warrant of the Company (“Warrant”).  Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.05 per share. Proceeds raised from the Offering will be used to advance the Company’s St. Onge project in Quebec, for general working capital and unallocated funds as per Tier 2 status requirements.

Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.

This offering is subject to TSX Venture Exchange acceptance.

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).