Vancouver, British Columbia — Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company“) is pleased to announce the appointment of the Honourable George J. Furey as an advisor. Mr. Furey, a former Senator from Newfoundland and Labrador, was the longest serving member of the Canadian Senate at the time of his retirement earlier this year. He most recently served as the Speaker of the Senate of Canada.
Paul Sparkes, CEO of Vortex commented, “George Furey is one of the most respected champions of our province and will bring immense knowledge and experience to Vortex as we continue to advance our salt asset on the west coast of Newfoundland and Labrador. We are honoured he has joined our team during this exciting transition in the province to becoming a renewable powerhouse.”
Mr. Furey holds three degrees from Memorial University and a law degree from Dalhousie Law School. During his career as an educator, he was a teacher with the Roman Catholic School Board in St. John’s, a Supervising Vice-Principal with the Port-au-Port Roman Catholic School Board and a Supervising Principal of the Placentia-St. Mary’s Roman Catholic School Board. Mr. Furey was called to the Bar of the Law Society of Newfoundland and Labrador in 1984 and was subsequently named a partner at the St. John’s law firm of O’Brien, Furey & Hurley. While in his second year of practicing law, he successfully challenged the Criminal Code language on sexual assault and proved that with the advent of the Canadian Charter of Rights and Freedoms, certain Criminal Code provisions were unconstitutional. He also served as Queen’s Counsel in 1996. Mr. Furey is a widely respected community leader, giving his time to numerous voluntary groups, professional boards and provincial commissions, including the Newfoundland and Labrador Teachers’ Association; The Boy Scouts of Canada; St. Clare’s Mercy Hospital Ethics Committee and the Gonzaga High School Council. He has been committed to advancing the interests of Newfoundlanders and Labradorians.
“I am extremely pleased to be a part of this exciting project that is taking place in Newfoundland and Labrador,” said Mr. Furey. “I look forward to being a part of Vortex’s mission to boost the hydrogen and salt industries in our province.”
In connection with Mr. Furey’s appointment as an advisor, and Mr. David Bowen’s recent appointment to the board of directors of the Company, the Company has granted 150,000 stock options (“Options”) to Mr. Furey and 200,000 Options to Mr. Bowen, each with an exercise price of $0.98. The Options granted to Mr. Furey shall vest in four equal installments of 37,500 Options on December 13, 2023, June 13, 2024, December 13, 2024 and June 13, 2025. The Options granted to Mr. Bowen shall vest in four equal installments of 50,000 Options on September 13, 2023, December 13, 2023, March 13, 2024 and June 13, 2024. Each vested Option, upon satisfaction of the exercise price, shall entitle the holder to receive one common share of the Company. The Options granted to Mr. Furey and Mr. Bowen are subject to the terms and conditions of the Company’s share-based compensation plan and expire, if unexercised, on June 13, 2026. These Options, and any shares issued upon the exercise of the Options, will be subject to a hold period of four months and one day in accordance with the policies of the Canadian Securities Exchange.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. Its flagship asset, the Fire Eye Project, is located in the Wollaston Domain of northern Saskatchewan, Canada. The Company is working to advance this project while continuing to assess other energy metal properties.
On Behalf of the Board of Directors
Chief Executive Officer, Director
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Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Company’s business and plans. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at http://www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.