Vortex Energy Announces Results of Shareholder Meeting

VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) ("Vortex" or the "Company") announces the voting results from its Annual General and Special Meeting of shareholders held on January 11, 2024 (the "Meeting"). A total of 24,260,177 (representing 34.21% of the issued and outstanding common shares) were represented at the Meeting.

The three nominees listed in the management information circular with respect to the Meeting were elected as directors of the Company. Shareholders also approved the Company's equity incentive plan and the amendment of the quorum requirement in the Company's articles to require two shareholders who hold at least 5% of the issued shares entitled to be vote at a meeting to be present at a shareholders' meeting in order for there to be a quorum at such meeting. Detailed results of the votes on the matters put before the Meeting are set out below:

Number of Directors

To set the number of directors for the ensuing year at three:

Election of Directors

To elect the following persons to serve as directors of the Company for the ensuing year:

Re-appointment of the Auditor

To re-appoint Baker Tilly WM LLP as the Company's auditor for the ensuing year at remuneration to be fixed by the directors:

Approval of Compensation Plan

To authorize, approve, ratify and confirm the Company's equity compensation plan and the unallocated entitlements issuable thereunder and permit the Company to grant options, restricted share units and deferred share units under the Company's equity compensation plan until January 11, 2027:

Approval of Amendment to Articles

To approve a special resolution to amend the quorum requirement in the Company's articles to require a quorum for the transaction of business at shareholder meetings of two shareholders who, in the aggregate, hold at least 5% of the issued shares entitled to be voted at the meeting and are present in person or represented by proxy.

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. The company is currently advancing its Robinson River Salt Project comprised of a total of 942 claims covering 23,500 hectares located approximately 35 linear kms south of the town of Stephenville in the Province of Newfoundland & Labrador. The Robinson River Salt Project is prospective for both salt and hydrogen salt cavern storage. The company is actively evaluating technologies to efficiently store hydrogen or energy in salt caverns. Vortex Energy Corp. also holds the Fire Eye Project, which is located in the Wollaston Domain of northern Saskatchewan, Canada.

On Behalf of the Board of Directors
Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
[email protected]

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