Volatus Capital Corp. announced a non-brokered private placement of 30,000,000 units comprised of a combination of flow through units and non-flow through units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,500,000 on September 6, 2022. The transaction will include participation from new investor, Newpath Resources Inc. for 8,000,000 units. Each flow through unit consists of one flow through share and one common share purchase warrant, and each non-flow through unit consists of one non-flow through share and one common share purchase warrant. Each warrant entitles the holder to purchase one non-flow through common share of the company at CAD 0.06 per warrant share for a period of five years from the closing. All securities issued will be subject to a four month hold period from the date of the issuance of such securities.

On the same date, the company raised CAD 717,500 through the issuance of 4,750,000 flow-through units and 9,600,000 non-flow through units. The warrants are exercisable till September 6, 2027. All securities issued in the first tranche are subject to a four month hold period expiring January 7, 2023.