Volta Announces Closing of $2.8 Million Oversubscribed and Upsized Private Placement

Executive Summary

• Volta Metals closed an oversubscribed, upsized non‑brokered private placement raising $2.81 M from the issuance of 12,219,601 flow‑through common shares at $0.23 per share.
• Proceeds will be used for eligible Canadian exploration expenses on the recently acquired Springer Rare Earth & Gallium Deposit and the Aki Critical Minerals Project, with expenditures to be renounced by 31 Dec 2025.
• A director purchased 87,000 FT shares in the offering (related‑party transaction) and the company paid $163,560 cash plus 711,132 finder warrants as commissions.

Key Details

• Offering Size: Gross proceeds of $2,810,508.
• Share Structure: 12,219,601 common shares issued on a flow‑through basis (FT Shares).
• Subscription Price: $0.23 per FT Share.
• Use of Proceeds: Eligible Canadian exploration expenses qualifying as “flow‑through critical mineral mining expenditures” for the Springer and Aki projects; to be incurred by 31 Dec 2026 and renounced by 31 Dec 2025.
• Related Party Transaction: One director acquired 87,000 FT Shares; exemption from formal valuation/minority approval under MI 61‑101 applied (participation < 25% of market cap).
• Finder Compensation: Cash commissions of $163,560 and issuance of 711,132 finder warrants, each warrant exercisable at $0.23 per share for 24 months from closing.
• Regulatory Hold Period: Shares subject to a statutory hold period of four months and one day under Canadian securities law.
• Closing Conditions: Subject to receipt of all required regulatory approvals, including CSE approval.

Notable Quotes

“This financing represents the largest amount Volta has raised, at the highest share price and with the fastest closing to date. The strong investor response validates our strategy, and the capital raised positions Volta to accelerate exploration and unlock additional value at the Springer deposit while continuing to reduce project risk.” – Kerem Usenmez, President & CEO, Volta Metals Ltd.