Volt Carbon Technologies Inc. (“Volt” or the “Company”) (TSX-V: VCT & OTCQB:TORVF) is pleased to announce that is has entered into an Engagement Letter with Sixty Two Capital Pty Ltd. (“Sixty Two Capital” or the “Finder”) pursuant to which the Company intends to complete a non-brokered private placement of 10,000,000 common shares in the capital of the Company (each, a “Share”) at a price of $0.07 per Share for gross aggregate proceeds of CDN$700,000 (the “Offering”). The Shares will be subject to a four month and one day hold period. The Company anticipates closing the Offering as soon as October 31.
One thing to note here: non-brokered private placement, meaning the company did not have to hire a broker to go shop for investors, they have a direct contact... but they will be free trading after 4 months, I can expect some of the shares to come back into the market however most of the shares are investment shares, that is how the rich get richer.
two press releases today
VOLT CARBON TECHNOLOGIES ANNOUNCES SHARES FOR DEBT TRANSACTION Press Release | 10/24/2022
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Calgary, Alberta, Canada, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Volt Carbon Technologies Inc. (“Volt” or the “Company”) (TSX-V: VCT) is pleased to announce that the Company has agreed to settle an outstanding debt in the amount of USD $188,464.25 (CAD $241,686.55) (the “Debt”) owing to an arm’s length creditor by issuing an aggregate of 2,843,371 common shares in the capital of the Company (the “Common Shares”) at a price of $0.085 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt by the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.
VOLT CARBON TECHNOLOGIES ANNOUNCES $700,000 PRIVATE PLACEMENT Press Release | 10/24/2022
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Calgary, AB, Oct. 24, 2022 (GLOBE NEWSWIRE) --
Volt Carbon Technologies Inc. (“Volt” or the “Company”) (TSX-V: VCT & OTCQB:TORVF) is pleased to announce that is has entered into an Engagement Letter with Sixty Two Capital Pty Ltd. (“Sixty Two Capital” or the “Finder”) pursuant to which the Company intends to complete a non-brokered private placement of 10,000,000 common shares in the capital of the Company (each, a “Share”) at a price of $0.07 per Share for gross aggregate proceeds of CDN$700,000 (the “Offering”). The Shares will be subject to a four month and one day hold period. The Company anticipates closing the Offering as soon as October 31.
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