- Volt Carbon Technologies (VCT) announced a non-brokered private placement financing for gross proceeds of up to $960,000
- The company intends to issue up to 12,000,000 units at $0.08 per unit
- Each unit will consist of one common share and one common share purchase warrant
- Volt Carbon is a carbon science company, with specific interests in energy storage and green energy creation
- Volt Carbon Technologies Inc. (VCT) is down 6.67 per cent, trading at C$0.07 per share at 12:24 pm ET
Volt Carbon Technologies (VCT) announced a non-brokered private placement financing for gross proceeds of up to $960,000.
The company intends to issue up to 12,000,000 units at $0.08 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at $0.16 for 36 months from the issuance date.
All securities issued will be subject to a statutory four-month hold period.
In connection to the offering, the company may pay a finder’s fee of 8 per cent in cash to certain eligible finders.
Volt Carbon intends to use the proceeds to pay outstanding payables, purchase additional equipment to advance battery and mineral separation technology, evaluate and potentially option additional mineral claims and for working capital purposes.
Closing of the placement is subject to customary conditions and regulatory approvals. The company anticipates closing the offering on or about March 31, 2023.
About Volt Carbon Technologies
Volt Carbon is a carbon science company with specific interests in energy storage and green energy creation. It also has holdings in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada.
Volt Carbon Technologies Inc. (VCT) is down 6.67 per cent, trading at C$0.07 per share at 12:24 pm ET.
