logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Vortex Energy Corp. Announces Letter Agreement For Acquisition Of Blue Ocean Salt Corp.

Mar 07, 2023•almost 3 years ago

Acquiring Company

Vortex Energy

Acquired Company

Blue Ocean Salt

Renewable EnergyEnergy

Description

Vortex Energy Corp. (CSE: VRTX) ("Vortex” or "Company") is pleased to announce that it has entered into a binding letter agreement (“Letter Agreement”) to acquire all of the issued and outstanding common shares of Blue Ocean Salt Corp. (“BOSC”), which owns a 100% interest in and to the Robinsons River Salt Property (“Property”) located in the Bay St. George region of southwestern Newfoundland. The Property consists of four contiguous mineral licenses and is comprised of 687 claims.

Company Information

Company

Vortex Energy

About

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.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed