Vertical Exploration Inc. announced a non-brokered private placement of up to 9,460,000 units at a price of CAD 0.05 per unit for aggregate gross proceeds of CAD 473,000 on December 11, 2023. Each Unit will be comprised of one common share and one transferable common share purchase warrant. Each Warrant will entitle the Subscriber to purchase one Warrant Share for an 18 month period after the Closing Date at an exercise price of CAD 0.10 per share.

The warrants are subject to an acceleration clause, in the event that the trading price of the Shares on the Toronto Stock Exchange, Venture Market reaches CAD 0.25 or more for a period of ten consecutive trading days. Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange. This offering is subject to TSX Venture Exchange acceptance.