VANCOUVER, BC, July 18,
2023 /CNW/ - Vortex Metals Inc.
(TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) ("Vortex" or
the "Company") is pleased to announce the results of
its annual general meeting of shareholders (the "Meeting")
held on July 10, 2023 in Vancouver, British Columbia. All
resolutions proposed at the Meeting were duly passed. The
resolutions at the Meeting consisted of the following: (1) election
of all the director nominees, Michael
Williams, John Larson,
Vikas Ranjan and Cale Thomas to the board of directors of the
Company; (2) re-appointment of Davidson & Co. LLP as auditor of
the Company for the ensuing year and authorization of the directors
to fix its remuneration; and (3) approval of a new equity incentive
plan (the "New Plan").
The New Plan allows the board of directors to grant such number
of stock options of the Company up to 10% of the issued and
outstanding common shares of the Company at the time of grant. The
New Plan includes, among other things:
- specific restrictions with respect to adjustments to security
based compensation. Any adjustment to stock options granted (except
in relation to a consolidation or share split) is subject to the
prior acceptance of the TSXV;
- Investor Relations Service Providers may not receive any
security based compensation other than stock options; and
- allowing for option holders to exercise options on a "Cashless
Exercise" or "Net Exercise" basis.
The Company has 4,757,100 stock options currently outstanding
under the New Plan and 1,250,905 remain available for grant.
All options granted under the Company's previous option plan are
now subject to the New Plan without any action required on the part
of the option holders.
A copy of the New Plan is attached to the management information
circular for the Meeting, a copy of which was filed on SEDAR on
June 9, 2023.
About Vortex Mines Inc.
Vortex Metals Inc. is the parent company of Mexican subsidiary
Empresa Minera Acagold, S.A. de C.V., which is the owner of a 100%
interest in two drill-ready high-potential copper-gold volcanogenic
massive sulfide (VMS) properties (Riqueza
Marina and Zaachila) in the
state of Oaxaca, and a third
high-potential gold property (El Rescate) in the state of
Puebla. The Oaxaca projects incorporate the most highly
prospective areas of high-grade copper mineralized surface
exposures ('gossans') and prominent gravity anomalies along an
emerging copper-gold VMS belt that includes Minaurum Gold's
(TSXV:MGG) Santa Marta
project.
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SOURCE Vortex Metals