Volt Carbon Technologies Announces Extension and Increase of Private Placement

Rhea-AI Summary

Volt Carbon Technologies (TORVF) has received TSX Venture Exchange approval to expand its non-brokered private placement from its previously announced size. The offering will now consist of 17.5 million units priced at $0.02 per unit, aiming to raise gross proceeds of up to $350,000. Each unit includes one common share and one common share purchase warrant. The company has also secured an extension for the final closing date to June 27, 2025. The proceeds will be used to advance battery and mineral separation technologies, settle outstanding payables, and provide working capital. No finder's fees are anticipated for this offering.

Positive

• Secured TSX-V approval for increased private placement size
• Proceeds will advance battery and mineral separation technologies development
• No finder's fees reduces offering costs

Negative

• Small offering size of only $350,000 indicates limited funding
• Low unit price of $0.02 suggests potential share price pressure
• Funds needed for outstanding payables indicates cash flow concerns

Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) (“Volt Carbon” or the “Company”) with reference to its prior news releases dated April 14, 2025, and May 22, 2025, is pleased to announce that it has obtained approval from the TSX Venture Exchange ("TSX-V") to increase the size of its non-brokered private placement to 17,500,000 units (the "Units") at a price of $0.02 per Unit, for gross proceeds of up to $350,000. The Company has also received approval to extend the deadline for the final closing of the private placement to June 27, 2025.

Each Unit consists of one common share and one common share purchase warrant. The closing of the Offering remains subject to customary conditions and regulatory approvals, including the final approval of the TSX-V. At this time there are no anticipated Finder’s Fee associated with the Offering.

The Company intends to use the proceeds of the Offering to advance its battery and mineral separation technologies, pay outstanding payables, and for general working capital purposes.

About Volt Carbon Technologies

Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation, with holdings in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada. For the latest information on Volt Carbon's 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 Director

Information Contact :
Email: info@voltcarbontech.com
Tel: (519-763-1197)

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning 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", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements include those with respect to: (i) the approval by the Exchange of the Offering; and (ii) the completion of the Offering.

Statements of past performance should not be construed 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 whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.

All of the forward-looking statements made 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 assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253955

FAQ

What is the size and price of Volt Carbon Technologies (TORVF) private placement?

Volt Carbon's private placement consists of 17.5 million units priced at $0.02 per unit, aiming to raise gross proceeds of up to $350,000.

When is the extended closing date for TORVF's private placement?

The final closing date for Volt Carbon's private placement has been extended to June 27, 2025.

How will Volt Carbon (TORVF) use the proceeds from the private placement?

The proceeds will be used to advance battery and mineral separation technologies, pay outstanding payables, and for general working capital purposes.

What does each unit in Volt Carbon's private placement include?

Each unit consists of one common share and one common share purchase warrant.

Are there any finder's fees associated with TORVF's private placement?

No, there are no anticipated finder's fees associated with the offering.