Volt Carbon closes financing, grants options

Executive Summary

• Volt Carbon completed the final closing of an oversubscribed non‑brokered private placement, issuing 13.96 M units at $0.025 per unit for gross proceeds of $349,000.
• The financing includes common share purchase warrants (exercise price $0.05, 24‑month term) and a finder’s fee arrangement with EMD Financial Inc., which received cash compensation and non‑transferable finder's warrants.
• Concurrently, the company granted 800,000 employee/contractor stock options (exercise price $0.05, five‑year term, immediate vesting).

Key Details

• Units Issued: 13.96 million units @ $0.025 per unit → $349,000 gross proceeds.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price $0.05, exercisable for 24 months).
• Finder’s Role: EMD Financial Inc. introduced subscribers contributing $172,500 of the total proceeds.
• Finder’s Compensation:
• Cash fee: $13,250.
• Finder’s warrants: 530,000 non‑transferable warrants (≈7.7 % of units placed by finder), exercisable at $0.05 per share for 24 months.
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period under applicable securities laws.
• Use of Proceeds:
• Scale‑up of mobile separation, graphene, and battery technologies at the Guelph plant.
• Intellectual property development initiatives.
• General working capital.
• Closing Condition: Subject to final approval by the TSX Venture Exchange.
• Stock Option Grant:
• 800,000 options granted to employees/contractors.
• Exercise price: $0.05 per share.
• Term: five years; vesting immediately upon grant.
• Also subject to TSX Venture Exchange approval.

Notable Quotes

No direct quotes were provided in the release.