Volt Carbon lifts unit price for $300,000 placement

Executive Summary

• Volt Carbon Technologies Inc. has amended the terms of its previously announced non-brokered private placement, repricing the units to comply with TSX Venture Exchange Policy 1.1 regarding market price discounts.
• The amended offering consists of up to 12 million units at a price of 2.5 cents per unit, generating gross proceeds of up to $300,000.
• Proceeds will be used to pay outstanding payables, advance battery and mobile mineral separation technology, and for general working capital.

Key Details

• Offering Structure: Up to 12 million units.
• Price: 2.5 cents per unit.
• Gross Proceeds: Up to $300,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one additional common share at an exercise price of five cents per warrant share.
• Warrant Duration: 24 months from the date of issuance.
• Finder's Fees/Compensation: No anticipated finder's fee, agent options, commission, or any compensation to be paid in connection with the private placement.
• Reason for Amendment: The change reflects recognition of TSX Venture Exchange Policy 1.1, which prohibits further discount from market price if the share price is below five cents. The new price corresponds to the company's market price at the time of the original announcement.
• Use of Proceeds: Pay outstanding payables, advance battery and mobile mineral separation technology, and for 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 in the offering.
• Control: No new control persons will be created by the offering.

Notable Quotes

• None provided in the text.