Volt Carbon Technologies Inc (TORVF)

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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 March 6, 2023, by issuing an aggregate number of 3,050,000 units (“Units”) at a price of $0.08 per Unit for gross proceeds of $244,000 (the “First Tranche”).

Each Unit consists of one (1) common share in the capital of the Company and one (1) common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to acquire one (1) additional common share in the capital of the Company (each a “Warrant Share”) at an exercise price of $0.16 per Warrant Share for a period of 36 months from the date of issuance. All common shares issued under the First Tranche will be subject to a four month and one day hold period.

An insider of the Company purchased or acquired direction and control over a total of 625,000 Units under the First Tranche of the Offering.

https://www.globenewswire.com/news-release/2023/03/30/2637522/0/en/Volt-Carbon-Technologies-Announces-Closing-of-First-Tranche-of-Private-Placement-for-gross-proceeds-of-244-000.html