Volt Lithium Announces Closing of US$1.5 Million Strategic Investment
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CALGARY, Alberta, May 02, 2024 (GLOBE NEWSWIRE) — 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.
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