VANCOUVER, BC / July 14th, 2021 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) announces that it has amended the financing announced May 4, 2021. The Company has revised the non-brokered private placement to up to 20 million units at a price of $0.10 per unit for aggregate gross proceeds of $2,000,000.00 (the “Offering”).
Each unit will be comprised of one common share (“Share”) and one transferable Share purchase warrant of the Company (“Warrant”). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 12-month period after the Closing Date at an exercise price of $0.15 per share.
Proceeds raised from the Offering will be used to advance the Company’s St. Onge project in Quebec, for general working capital.
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:
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).