Volt Carbon Announces Closing of First Tranche of Private Placement for gross proceeds of $200,025, Extension of Private Placement and Launch of Carbon Credits Initiative
Summary
Calgary, AB, Canada, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Volt Carbon Technologies Inc. (Volt Carbon or the Company) (TSX-V: VCT) (OTCQB: TORVF), is pleased to announce that it has closed the first tranche of the private placement (the Offering) announced on July 22nd, 2024 and clarified on July 30th, 2024, by issuing 4,445,000 common shares in the capital of the Company on a flow-through basis pursuant to the Income Tax Act (Canada) (each a Flow-Through Share) at a price of $0.045 per Flow-Through Share for gross proceeds of $200,025 (the First Tranche). The Company will use the net proceeds of the Offering to incur qualifying Canadian exploration expenses as such term is defined in the Income Tax Act (Canada). For the latest information on Volt Carbons properties and news please refer to the website www.voltcarbontech.com.On behalf of the Board of Directors,Volt Carbon Technologies Inc.V-Bond Lee, P. Eng.CEO, President, Chairman of the Board and DirectorNeither 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 legislation, concerning Volt Carbons business and affairs. Such forward-looking statements include those with respect to: (i) the completion of the Offering; (ii) the approval by the TSX-V of the cash finder fee and the Finder Warrants; (iii) the use if the net proceeds of the Offering to incur qualifying Canadian exploration expenses; (iv) the ability of the Company to close the Offering on or before September 20th, 2024; (v) to plan to explore the viability and benefits of implementing a carbon offset project using Volt Carbons innovative dry separation process in graphite production; (vi) the ability of the Company to develop and integrate a sustainability page into Volt Carbon Technologies website to showcase the Companys commitment to sustainability, emissions data, reduction goals, and progress, enhancing transparency and accountability; and (vii) managements belief that the Companys dry mineral separation processes results in much faster process times and may result in the Companys our carbon footprint being lower than other all graphite producers.Statements of past performance should not be construed as an indication of future performance. 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 legislation.