Volt Carbon Technologies Bolsters Exploration and Growth with C$200,000.01 Private Placement

Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) has announced the successful closing of the second tranche of its private placement, raising C$200,000.01. This significant funding will enable the company to accelerate its exploration activities in Quebec and strengthen its financial position, positioning it for future growth. In this article, we will delve into the implications of this funding round, Volt Carbon's strategic goals, and the company's upcoming Annual General Meeting.

The C$200,000.01 raised from the second tranche of Volt Carbon's private placement will be used to fund exploration activities in Quebec. Specifically, the funds will be used to incur "Canadian exploration expenses" as defined in the Income Tax Act (Canada). This suggests that the company will use the funds to explore its mineral interests in the province, potentially including drilling, geophysical surveys, and other exploration activities. The gross proceeds from the issuance of the FT Shares will be renounced with an effective date no later than December 31, 2024, to the purchasers of the FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. This indicates that the company is committed to using the funds for exploration purposes and is seeking to maximize the tax benefits associated with flow-through shares.



The remaining C$400,000 from the private placement will likely be allocated similarly, with C$300,000 (50%) for exploration and C$100,000 (16.67%) for working capital, based on the initial allocation plan. This allocation demonstrates Volt Carbon's focus on driving value through strategic investments in its core operations and exploration activities.

Volt Carbon Technologies expects to complete the Offering on or around December 17, 2024. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange (TSXV). Finder's fees will be payable in accordance with the policies of the TSXV, and the securities issued under the Offering will be subject to a hold period ending on the date that is four months plus one day following the date of issue in accordance with applicable securities laws.

In addition to the private placement, Volt Carbon Technologies has announced its notice of Annual General Meeting, scheduled for December 15, 2024. This meeting will provide an opportunity for shareholders to discuss the company's progress, strategic plans, and future prospects.

Volt Carbon Technologies' commitment to exploration and growth is evident in its recent funding round and upcoming Annual General Meeting. The company's focus on mineral exploration in Quebec, coupled with its strategic allocation of funds, positions it well for future success. As an investor, keeping an eye on Volt Carbon Technologies' progress and developments can provide valuable insights into the company's potential and long-term valuation.

In conclusion, Volt Carbon Technologies' C$200,000.01 private placement is a significant step towards accelerating exploration activities and strengthening the company's financial position. With a clear focus on mineral exploration in Quebec and a well-structured allocation of funds, Volt Carbon Technologies is poised for growth and success in the coming years. The upcoming Annual General Meeting will provide an opportunity for shareholders to engage with the company and discuss its progress and future prospects.