Due to strong investor demand, the Offering was oversubscribed with the Company issuing a total of 5,630,000 units (the “Units”) at a price of C$0.035 per Unit for aggregate gross proceeds of C$197,050.
Each Unit consists of one common share in the capital of the Company and one warrant to purchase common shares (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share at an exercise price of C$0.05 per share for a period of 24 months from the date of issuance.
All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. No finder’s fees, commissions, agent options or other compensation have been paid in connection with the Offering.
The Company intends to use the proceeds from the Offering to support intellectual property development initiatives, advancing battery and mobile mineral separation technologies, and for general working capital.
The closing remains subject to final approval from the TSX Venture Exchange.
About Volt Carbon Technologies
Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation, with interests in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada. For the latest information about the properties and news of Volt Carbon, please refer to the website www.voltcarbontech.com.
Neither 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 Carbon’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “intends”, “budget”, “scheduled”, “estimates”, “predicts”, “intends”, “anticipates” or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “could” or “will be taken”, “occur” or ‘to be achieved’. Such forward-looking statements include statements regarding the Company’s intended use of proceeds and its ongoing development initiatives.
Statements regarding past performance should not be taken as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of the achievement or otherwise of such results. A number of factors, including those discussed above, could cause actual results to differ materially from those discussed in the forward-looking statements. Such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All forward-looking statements in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release and Volt Carbon undertakes no obligation to update or revise it to reflect new events or circumstances, except as may be required under applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279898
#Volt #Carbon #Technologies #Announces #Final #Closing #Oversubscribed #Private #Placement #Gross #Proceeds