Volt Carbon Technologies Enters into Option Agreement with E-Power Resources
Volt Carbon Technologies Inc. (TORVF) has entered into an option agreement with E-Power Resources Inc. for Volt to acquire an interest in EPR's Tetepisca Graphite Project. Under the terms of the Agreement, EPR has granted Volt an option to acquire a 5% interest in the Property and issue 6,800,000 shares of EPR to Volt. Volt has agreed to expend $680,000 on the Property prior to December 31, 2024, and if it chooses to exercise the option, it will be required to make a cash payment of $1,500,000 to EPR. This aligns with Volt's strategy to increase its access to graphite resources and capitalize on its exclusive dry processing methods for the sustainable purification of graphite, specifically tailored for battery anode applications.
02/05/2024 - 08:38 AM
Calgary, Alberta--(Newsfile Corp. - February 5, 2024) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) (FSE: WNF) ("VCT") is pleased to announce that it has entered into an option agreement with E-Power Resources Inc. (CSE: EPR) ("EPR") (the "Agreement") for Volt to acquire an interest in EPR's Tetepisca Graphite Project, located in Northern Quebec (collectively, the "Property"), subject to approval by the TSX Venture Exchange ("TSX-V") and the Canadian Securities Exchange ("CSE").
Under the terms of the Agreement, EPR has agreed to: (i) grant Volt an option to acquire an undivided five percent (5% ) interest in the Property that is exercisable until December 31, 2025 (the "Property Option"); and (ii) issue 6,800,000 shares of EPR to Volt (the "Shares"). As consideration for the Property Option and the Shares, Volt has agreed to expend $680,000 on the Property (the "Exploration Expenditures") prior to December 31, 2024. Should Volt choose to exercise the Property Option, in addition to the Exploration Expenditures, Volt will be required to make a cash payment of $1,500,000 t o EPR.
"Establishing this option agreement with E-Power Resources for the Tetepisca Graphite Project aligns well with Volt's strategy to increase its access to graphite resources. Our objective is to scale up and capitalize on our exclusive dry processing methods for the sustainable purification of graphite, specifically tailored for battery anode applications. We are excited about the prospects this collaboration brings, particularly within this geographic region, and reassert our commitment to advancing sustainable solutions in the energy storage and green energy sectors." - V-Bond Lee, CEO of Volt Carbon Technologies
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.
Information Contact :info@voltcarbontech.com
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.
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) receipt of the approval of the TSX-V and CSE for the Agreement; (ii) Volt's intention to make the Exploration Expenditures prior to December 31, 2024; (iii) the ability of Volt to make the $1,500,000 cash payment to EPR should Volt choose to exercise the Property Option and (iv) Volt's objective to scale up and capitalize on its exclusive dry processing methods for the sustainable purification of graphite, specifically tailored for battery anode applications.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196827
What is the option agreement between Volt Carbon Technologies Inc. and E-Power Resources Inc. about?
The option agreement allows Volt to acquire an interest in EPR's Tetepisca Graphite Project.
What are the terms of the option agreement?
Under the terms of the Agreement, EPR has granted Volt an option to acquire a 5% interest in the Property and issue 6,800,000 shares of EPR to Volt. Volt has agreed to expend $680,000 on the Property prior to December 31, 2024, and if it chooses to exercise the option, it will be required to make a cash payment of $1,500,000 to EPR.
What is Volt's strategy related to the option agreement?
Volt's strategy is to increase its access to graphite resources and capitalize on its exclusive dry processing methods for the sustainable purification of graphite, specifically tailored for battery anode applications.
What is the ticker symbol for Volt Carbon Technologies Inc.?
The ticker symbol is TORVF.
