VOLT CARBON TECHNOLOGIES - TORVF STOCK NEWS

Volt Carbon Technologies Inc. announces mid-year test results for its lithium-ion battery and provides operational update.

Volt Carbon Technologies Inc. (TSXV:VCT)(OTCQB:TORVF) has closed the final tranche of its private placement, raising $73,000. Scottie Resources Corp. (TSXV:SCOT)(OTCQB:SCTSF)(FSE:SR8) reports positive preliminary metallurgical test results for the Blueberry Zone at its Scottie Gold Mine Project.

Green Battery Minerals Inc. and Volt Carbon Technologies Inc. have signed a preliminary mineral processing agreement for the development of a proprietary dry separation process for graphite. The process eliminates the use of water and produces no effluent, while retaining the quality of the graphite flakes. The companies believe this technology will reduce the environmental footprint and potentially lower processing costs.

Volt Carbon Technologies (OTCQB: TORVF) announced that its subsidiary, Solid Ultrabattery Inc., successfully applied for funding from the DAIR Green Fund. The initiative, supported by the Government of Canada, aims to develop lithium-ion batteries for small drone applications, with DAIR covering 75% of the project costs, up to $75,000. The project is expected to be completed by March 31, 2024, focusing on a 5Ah cell for drones weighing less than 1 kg. CEO V-Bond Lee expressed excitement over the potential for commercialization, while the Minister of FedDev Ontario highlighted the project's contribution to sustainable innovation in the aerospace industry.

Volt Carbon Technologies Inc. (OTCQB: TORVF) announced a non-brokered private placement of up to 12,000,000 Units at $0.08 each, aiming for gross proceeds of up to $960,000. Each Unit consists of one common share and one warrant, which can be exercised at $0.16 for 24 months. The funds will be used for outstanding payables, equipment purchases, mineral claim evaluations, and working capital. A finder’s fee of 8% may be paid to eligible finders. The offering is subject to regulatory approval, with expected closing around March 31, 2023.

Volt Carbon Technologies Inc. (TSX-V: VCT, OTCQB: TORVF) has appointed Carmelo Marrelli as its new Chief Financial Officer effective March 1, 2023, pending TSX Venture Exchange approval. Marrelli, a Chartered Professional Accountant with over 20 years of experience, will bring valuable support to the company. Additionally, Volt Carbon has granted 1,500,000 stock options to a Director at an exercise price of $0.12 and 350,000 options to employees and consultants at $0.08, all expiring on February 28, 2028. The company thanks Dr. David Madill for his interim role as CFO.

Volt Carbon Technologies has acquired a 100% interest in the Abamasagi Lake Lithium Project, situated northwest of Nakina, Ontario. This acquisition was confirmed through the staking of 150 mining claims, covering 3100 hectares. The project area was identified for its potential lithium resources based on geological data from the Ontario government. The new claims are near Volt Carbon's existing Manitouwadge Graphite Project, allowing for more efficient exploration management. The company plans to explore this property further in 2023, possibly leveraging rare earth minerals for lithium-ion battery production.

Volt Carbon Technologies Inc. (OTCQB: TORVF) has announced promising test results for its solid-state lithium-metal batteries, produced at its Solid Ultrabattery facility in Guelph, Ontario. In 2022, these batteries achieved impressive cycle stability, with lithium metal coin cells reaching 400 cycles at 81.6% capacity, and pouch cells achieving 265 cycles at 81.8%. The company developed a proprietary non-flammable composite electrolyte aimed at enhancing safety by reducing risks like thermal runaway. Moving forward, Volt Carbon intends to exceed 800 cycles and 80% capacity, focusing on further advancements in nanotechnology and battery fabrication.