VANCOUVER, BC, June 27,
2024 /CNW/ - Vortex Metals Inc. (TSXV: VMS) (FSE:
DM8) (OTCQB: VMSSF) (" Vortex" or the" Company ") is pleased to
announce the appointment of Banco de Chile Director and distinguished businessman
Mr. Paul Fürst to its Board of Directors. Mr. Fürst is also a
principal in Windows Minerals, Vortex Metals Optionor on the
Chilean Illapel Copper Project.
"We are delighted to welcome Paul to the board of Vortex
Metals. This appointment marks a significant event for the Company,
as Paul's impressive credentials and extensive experience in the
commercial real estate, banking and mining sectors will bring
valuable insights and leadership to Vortex
Metals", commented, Vikas
Ranjan, Co-founder, president and CEO of Vortex Metals.
Mr. Fürst stated, "I am very pleased to join the board of
Vortex Metals. We believe that Illapel Project, together with
projects in Mexico, represent a
great complement and an important opportunity for the Company. The
Illapel project is adjacent to and extending from our existing
mining operation in a well-established mining region. I am excited
to join the board of Vortex Metals and look forward to working
closing with its management team to develop a world class copper
and gold asset".
Mr. Fürst is also a partner and board member of Banco de
Chile, listed on the NYSE since
2019. Banco de Chile was
established in 1893 and with a market value of approximately
US$ 12 Billion, it is the largest
private bank in Chile. The bank is
headquartered in Santiago, Chile
with network of over 400 branches and 1900 plus ATMs spread across
the country.
Mr. Fürst also has significant interest and experience in the
mining industry. Over his 18 years in the mining sector, he has
developed specializations in mining services, drilling, and
ventilation chimneys. He is a partner and director of Ventana
Minerals, a mining contractual company with interests in copper and
gold properties in northern Chile
and a mineral processing plant in Rengo. He also is a partner and
director since 2005 of the mining drilling and hydrogeology company
Terra Services.
Mr. Fürst has been a Partner and Board Member of Mall Plaza
since 1997, the largest shopping mall development and management
company in Latin America operating
in Chile, Peru, and Colombia with a market value of approximately
US $3 Billion, annual sales from
malls under operations of US $4,500
million with 285.2 million visitors. From 1998 to date, he
has been a director of Grupo Plaza SA, whose Audit Committee he
served for two years, until April 2019. His role in the early
development of the first shopping mall in Chile, Parque Arauco, from 1986 to 1997,
further highlights his significant contributions to the
industry.
Mr. Fürst is a commercial engineer from the Universidad del
Desarrollo and also completed the Senior Management Program (PADE)
at the ESE Business School of the Universidad de los Andes.
The addition of Paul Fürst to the Board of Directors is a
significant development for the Vortex Metals team, reflecting the
Company's commitment to excellence and growth in the mining sector.
Mr. Fürst's wealth of experience and strategic business acumen will
be invaluable as Vortex Metals continues to advance its diversified
portfolio of exploration projects in Chile and Mexico.
The Company also announces that it has granted a total of 1.625
million incentive stock options to purchase common shares of the
company to certain directors, officers, advisors and consultants of
the company. Each option is exercisable into one common share at an
exercise price of $0.10 per common
share for a period ranging from five to ten years from the date of
grant. The company has also granted one million restricted
share units (RSUs) to certain directors and officers of the
company. Both stock options and restricted share units vest
quarterly over a period of one year.
About Vortex Metals Inc.
Vortex Metals Inc. is a copper-focused exploration and
development company with a diversified portfolio of exploration
projects in Chile and Mexico. Vortex holds an option to acquire up
to 80% interest in the brownfield Illapel Copper Project in
Chile and through its Mexican
subsidiary Empresa Minera Acagold, S.A. de C.V., it owns 100%
interest in two drill-ready high-potential copper-gold volcanogenic
massive sulfide (VMS) properties, Riqueza
Marina and Zaachila in
Oaxaca, Mexico. The company
emphasizes responsible exploration, community engagement, and
environmental stewardship to meet the rising global demand for
copper sustainably.
Forward-Looking Statements
This press release may contain forward looking statements that
are made as of the date hereof and are based on current
expectations, forecasts and assumptions which involve risks and
uncertainties associated with our business including permitting
approvals, any private placement financings, the uncertainty as to
whether further exploration will result in the target(s) being
delineated as a mineral resource, capital expenditures, operating
costs, mineral resources, recovery rates, grades and prices,
estimated goals, expansion and growth of the business and
operations, plans and references to the Company's future successes
with its business and the economic environment in which the
business operates. All such statements are made pursuant to the
'safe harbour' provisions of, and are intended to be
forward-looking statements under, applicable Canadian securities
legislation. Any statements contained herein that are statements of
historical facts may be deemed to be forward-looking statements. By
their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties. We
caution readers of this news release not to place undue reliance on
our forward-looking statements as several factors could cause
actual results or conditions to differ materially from current
expectations. Please refer to the risks set forth in the Company's
most recent annual MD&A and the Company's continuous disclosure
documents that can be found on SEDAR at www.sedarplus.ca . The
Company does not intend, and disclaims any obligation, except as
required by law, to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
The Company cautions that mineralization on, or production from,
neighbouring properties is no guarantee of the existence of similar
mineralization or a guarantee of future production from the Illapel
Project.
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.
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SOURCE Vortex Metals Inc.
