Volt Carbon Technologies Inc. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.07 per unit for gross proceeds of up to CAD 700,000 on April 9, 2024. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share in the capital of the company at an exercise price of CAD 0.12 per warrant share for a period of 36 months from the date of issuance.

All securities issued under the Offering will be subject to a four-month plus one day hold period. In connection with the Offering, the company may pay a cash finder's fee to certain arm's length eligible finders equal to 8% of the aggregate gross proceeds received by the company from purchasers of units sourced by the finders. Closing of the Offering is subject to customary conditions and regulatory approvals including the approval of the TSX Venture Exchange.

The company anticipates closing the first tranche of the Offering on or about April 13, 2024. The final tranche is expected to close on or about May 3, 2024. The transaction will include participation from V-Bond Lee, Glen Nursey and Carmelo Marrelli directly or indirectly for a minimum aggregate of 1,572,857 units for CAD 110,100.