Volt Carbon arranges $175,000 private placement

Executive Summary

• Volt Carbon Technologies Inc. announced a non-brokered private placement financing of up to five million units at a price of 3.5 cents per unit, targeting gross proceeds of up to $175,000.
• Each unit consists of one common share and one common share purchase warrant, with the warrants exercisable at 5 cents per share for a period of 24 months.
• Proceeds will be used for intellectual property development, advancing battery and mobile mineral separation technologies, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 5,000,000 units.
• Price Per Unit: 3.5 cents.
• Gross Proceeds: Up to $175,000.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: 5 cents per warrant share.
  • Duration: 24 months from the date of issuance.
• Hold Period: All securities are subject to a four-month-and-one-day hold period.
• Fees: No finders' fees, commissions, agent options, or other compensation are anticipated.
• Use of Proceeds: Support intellectual property development initiatives, advance battery and mobile mineral separation technologies, and general working capital.
• Closing Conditions: Subject to customary conditions and regulatory approvals, including TSX Venture Exchange approval.
• Timeline: Anticipated closing within approximately 30 business days.
• Insider Participation: No insiders intend to participate; no new control persons will be created.

Notable Quotes

• None provided in the text.