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Calgary, AB, Canada, March 01, 2022 (GLOBE NEWSWIRE) — Volt Carbon Technologies Inc. (“Volt Carbon“or the”Company”) (TSX-V: VCT), with reference to its previous press release dated January 24, 2022, is pleased to announce that on February 28, 2022, it closed the second tranche of the previously announced private placement by placing a total of 6,400,000 units (“Common units”) at a price of $0.125 per Common Unit for gross proceeds of $800,000 (the “Offer”).
Each ordinary unit consists of one ordinary share in the capital of the Company (each a “To share”) at a price of $0.125 per share and one-half (0.5) common share purchase warrant (“To guarantee”). Each Warrant entitles its holder to acquire an additional Share (aWarrant action”) at an exercise price of $0.25 per warrant share until February 28, 2024. The units will be subject to a hold period of four months and one day.
The Company expects to close the third and final tranche of the Offering in due course. The Company intends to pay the 6% finder’s fee in cash and to issue the non-transferable finder’s warrants concurrently with the final closing of the Offering.
On Volt Carbon
Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green recreation, with interests in graphite mining leases in the province of Quebec in the Canada. For the latest information on Volt Carbon properties and news, please visit the website: www.voltcarbontech.com
On behalf of the Board of Directors
Volt Carbon Technologies Inc.
William Pfaffenberger, Chairman of the Board, Chief Executive Officer and President
Email: [email protected]
Tel: (250) 381-6181
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities laws, regarding Volt Carbonbusiness and business. In some instances, forward-looking statements can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “for” ”budget”, ”planned”, ”estimates”, “predict”, ”intend”, ”anticipate” or variations of these words and phrases or state that certain actions, events or results ”could”, ”could”, ”would ”, ”could” or ”will be taken”, ”will occur” or ”will be carried out”. These forward-looking statements.
These forward-looking statements are based on current data expectations and are naturally subject to uncertainties and changes in circumstances which could cause actual results to differ materially. The forward-looking statements contained in this press release assume, among other things, that the conditions for the completion of the Offer, including final regulatory approval, will be satisfied. and that the third and the last tranche of the Offer will be closed on time.
Although Volt Carbon believes that the expectations expressed in these forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks that could affect Volt Carbonto complete the Offer, including that required regulatory consents and approvals will not be obtained.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be construed as guarantees of future performance or results, and will not necessarily be precise indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. These forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking information is provided as of the date of this press release, and Volt Carbon assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.