Volt Lithium Announces Closing of US$1.5 Million Strategic Investment
02 Maggio 2024 - 1:30PM
Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF)
(“
Volt” or the “
Company”) is
pleased to announce that it has closed its previously announced
non-brokered private placement of 6,818,182 units of Volt
(“
Units”) issued to a strategic investor (the
“
Investor”) at a price of US$0.22 per Unit for
aggregate consideration of US$1,500,000 (the “
Strategic
Investment”) effective May 1, 2024. Each Unit consisted of
one common share in the capital of the Company (each, a
“
Common Share”) and one-half of one Common Share
purchase warrant (each whole warrant, a
“
Warrant”), with each Warrant exercisable into one
Common Share (a “
Warrant Share”) at a price of
US$0.35 per Warrant Share until May 1, 2026. The securities issued
under the Strategic Investment are subject to a hold period equal
to four months and a day from the date of closing of the Strategic
Investment, which expires on September 2, 2026.
The proceeds of the Strategic Investment will be
used by Volt for the deployment of a field unit in the Delaware
Basin in West Texas, USA and for other general corporate purposes.
This field unit will produce lithium hydroxide monohydrate using
Volt’s proprietary direct lithium extraction technology, building
on the work done to date by Volt at the Company’s permanent
demonstration plant in Calgary, Alberta (the “Demonstration
Plant”).
The securities referred to herein have not been,
and will not be, registered under the United States Securities Act
of 1933, as amended (the “U.S. Securities Act”),
or any U.S. state securities laws and may not be offered or sold in
the United States absent registration or an available exemption
from the registration requirement of the U.S. Securities Act and
applicable U.S. state securities laws. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities, in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About the Delaware Basin
The Delaware Basin is one of the largest
conventional oil and gas producing basins in North America, with
approximately 10.9 million barrels of water produced every day in
association with the oil and gas production.
About Volt
Volt is a lithium development and technology
company aiming to be North America’s first commercial producer of
lithium hydroxide and lithium carbonates from oilfield brine.
For further information, visit Volt’s website
at: https://voltlithium.com/.
Contact Information
For Investor Relations inquiries or further
information, please contact:
Alex Wylie, President &
CEOawylie@voltlithium.comM: +1.403.830.5811
Forward-Looking Statements
This news release includes certain
“forward-looking statements” and “forward-looking information”
within the meaning of applicable Canadian securities laws. When
used in this news release, the words “anticipate”, “believe”,
“estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “will”,
“would”, “could”, “schedule” and similar words or expressions,
identify forward-looking statements or forward-looking information.
Statements, other than statements of historical fact, may
constitute forward-looking information and include, without
limitation, information with respect to the use of proceeds from
the Strategic Investment, the deployment of a field unit in the
Delaware Basin, the production of lithium hydroxide monohydrate by
the field unit, and the commercial production of lithium hydroxide
and lithium carbonates from oilfield brine. With respect to the
forward-looking information contained in this news release, the
Company has made numerous assumptions. While the Company considers
these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies
and may prove to be incorrect. Additionally, there are known and
unknown risk factors which could cause the Company’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information contained herein
including those known risk factors outlined in the Company’s annual
information form dated February 29, 2024 and (final) short form
base shelf prospectus dated July 20, 2023. All forward-looking
information herein is qualified in its entirety by this cautionary
statement and the Company disclaims any obligation to revise or
update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law.
Neither the 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 news release.
Grafico Azioni Volt Lithium (TSXV:VLT)
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Da Mag 2024 a Giu 2024
Grafico Azioni Volt Lithium (TSXV:VLT)
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