Volt Carbon arranges $300,000 private placement

Executive Summary

• Volt Carbon Technologies Inc. announced a non-brokered private placement financing of up to 20 million units at $0.015 per unit, raising gross proceeds of up to $300,000.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.05 per share for 24 months.
• Proceeds are designated for paying outstanding payables, advancing battery and mobile mineral separation technology, and general working capital.

Key Details

• Financing Structure: Non-brokered private placement.
• Units Offered: Up to 20,000,000 units.
• Price Per Unit: $0.015 (1.5 cents).
• Gross Proceeds: Up to $300,000.
• Warrant Terms: Each unit includes one warrant; each warrant allows the purchase of one additional common share at an exercise price of $0.05.
• Warrant Expiry: 24 months from the date of issuance.
• Hold Period: Four months and one day for all securities issued.
• Discount: The offering price represents a 25% discount to the company's market price, compliant with TSX Venture Exchange Policy 4.1.
• Fees/Compensation: No finder's fees, agent options, commissions, or other compensation are anticipated.
• Use of Proceeds: Payment of outstanding payables, advancement of battery and mobile mineral separation technology, 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.