Volt Carbon Technologies completes $300,000 private placement

Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) announced the completion of its non-brokered private placement, raising total gross proceeds of $300,000 through the issuance of 12 million units.

The company closed the final tranche on November 19, issuing 6 million units at $0.025 per unit for gross proceeds of $150,000. This followed an initial tranche of 6 million units completed on October 24.

Each unit comprises one common share and one warrant. The warrants allow holders to purchase additional common shares at $0.05 each within 24 months of issuance. No finder's fees were paid for the offering.

Securities issued in the final tranche are subject to a four-month-and-one-day statutory hold period under applicable securities laws. Final approval from the TSX Venture Exchange remains pending.

Volt Carbon stated it intends to use the proceeds for general working capital, advancement of its graphite processing technologies, and development work on battery initiatives.

The Calgary-based company describes itself as a carbon science company focused on energy storage and green energy creation, with mining claims in Ontario, Quebec and British Columbia.

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