Volt Carbon Technologies Announces Extension of Private Placement and Option Grant

Rhea-AI Summary

Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) has extended the private placement deadline to May 31, 2024, for up to 10,000,000 Units at $0.07 per Unit, aiming for gross proceeds of $700,000. Options of 500,000 and 3,000,000 have been granted to employees, consultants, and Directors at exercise prices of $0.08 and $0.12, expiring on May 9, 2029.

Calgary, Alberta--(Newsfile Corp. - May 9, 2024) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) ("Volt Carbon" or the "Company") with reference to its prior news releases dated April 9, 2024 and April 19, 2024, the Company is pleased to announce that it has obtained approval from the TSX Venture Exchange ("TSX-V") to extend the deadline for the final closing of its private placement of up to 10,000,000 Units (the "Units") at a price of $0.07 per Unit for gross proceeds of up to $700,000 (the "Offering") until May 31st, 2024. The closing of the Offering remains subject to customary conditions and regulatory approvals, including the approval of the TSX-V.

Grant of Options

In accordance with the Company's stock option plan, Volt Carbon announces that it has granted an aggregate of 500,000 options to existing employees and consultants of the Company at an exercise price of $0.08. Additionally, an aggregate of 3,000,000 options have been granted to Directors of the Company at an exercise price $0.12. All options granted expire on May 9, 2029.

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: (647-546-7049)

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/208566

FAQ

What is the deadline extension for Volt Carbon Technologies' private placement?

Volt Carbon Technologies has extended the deadline for the final closing of its private placement until May 31, 2024.

How many Units are being offered in Volt Carbon Technologies' private placement?

Up to 10,000,000 Units are being offered at a price of $0.07 per Unit for gross proceeds of up to $700,000.

How many options were granted to existing employees and consultants of Volt Carbon Technologies?

Volt Carbon Technologies granted 500,000 options to existing employees and consultants at an exercise price of $0.08.

How many options were granted to Directors of Volt Carbon Technologies?

An aggregate of 3,000,000 options have been granted to Directors of Volt Carbon Technologies at an exercise price of $0.12.

When do the options granted by Volt Carbon Technologies expire?

All options granted by Volt Carbon Technologies expire on May 9, 2029.