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Vertical Exploration $VERT.ca Enters into an LOI with Venturevest Realty Partners for Note Facility to Support Significant St-Onge Wollastonite Development $TORR.ca $FA.ca $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca

Posted by AGORACOM at 12:36 PM on Thursday, October 3rd, 2019
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VANCOUVER, BC / ACCESSWIRE / October 3, 2019 /VERTICAL EXPLORATION INC. (TSXV:VERT) (“Vertical” or “the Company”) and Venturevest Realty Partners LLC (“Venturevest”) are pleased to announce that the two companies have signed a non- binding Letter of Intent (LOI) to enter into discussions regarding the provision by Venturevest of a secured Note Facility up to a maximum amount of $20 million CAD to support the multi-phased development of the St-Onge Wollastonite Deposit.

The Note Facility would be a staged credit facility that would provide the required financing to allow Vertical to move forward with four distinct phases of St-Onge development, from the initial quarry style permitting and production phase through to the mining and final processing plant stage. Vertical views this potential Note Facility financing as a significant development that would enable the Company to rapidly develop and expand its St-Onge Wollastonite Deposit.

Further details regarding the Note Facility Agreement will be provided as soon as all terms have been negotiated between Vertical and Venturevest. The Agreement is subject to a due diligence period that is anticipated to be completed within the next 60 days. This transaction is subject to the approval of the TSX Venture Exchange.

ABOUT VENTUREVEST REALTY PARTNERS LLC.

Venturevest Realty Partners LLC (“Venturevest”) is a New York corporation.

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

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
https://vertxinc.com/

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