VANCOUVER, BC / January 24th, 2020 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) has arranged a non-brokered private placement of up to 26 million units at a price of five cents per unit for aggregate gross proceeds of $1.3-million.
Each unit will comprise one common share and one-half of one transferable share purchase warrant of the company. Each full warrant will entitle the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of seven cents 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 finances 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-V 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
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.