Volt Lithium (VLT.V and VLTLF) - Nov 29

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dan_s
Posts: 36071
Joined: Fri Apr 23, 2010 8:22 am

Volt Lithium (VLT.V and VLTLF) - Nov 29

Post by dan_s »

Volt Lithium is what I call a "Story Stock". I like the "story", but the Company needs this capital infusion to get their promising DLX project in the Permian Basin across the finish line. I've been told that their joint venture partner in the Delaware Basin is with a well-known large-cap upstream company. If the project is successful in profitably producing lithium from oilfield brine water, the upside is significant.
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CALGARY, Alberta, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSXV: VLT) (“Volt” or the “Company”) is pleased to announce that it has successfully closed the second and final tranche of its previously announced non-brokered private placement of units (“Units”) of the Company (the “Concurrent Private Placement”). The Company completed the second tranche of the Concurrent Private Placement by distributing 430,645 Units at a price of $0.31 per Unit for gross proceeds of approximately $134,000. Together with the first tranche of the Concurrent Private Placement, the Company issued an aggregate of 1,559,254 Units for aggregate gross proceeds of approximately $483,000. All securities issued in connection with the Concurrent Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.

Each Unit consists 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”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.44 for 24 months following the date hereof.

The net proceeds of the sale of the Units will be used to develop the Company’s direct lithium extraction technology to improve operating efficiencies; to continue the scale-up of operations at its field unit in the Delaware Basin in Texas; and for general working capital and corporate purposes.

The securities offered 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 press 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 Volt

Volt is a lithium development and technology company aiming to be one of North America’s first commercial producers of lithium carbonates and lithium hydroxide from oilfield brine. Our strategy is to generate value for shareholders by leveraging management’s hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world’s clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction (“DLE”) technology and process, Volt’s innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning us for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company’s continued progress on its website: https://voltlithium.com/.

Contact Information

For Investor Relations inquiries or further information, please contact:

Alex Wylie, President & CEO
T: +1.403.830.5811
E: info@voltlithium.com

Or

Greg Foofat, Vice President, Investor Relations
T: +1.587.888.5213
E: info@voltlithium.com
Dan Steffens
Energy Prospectus Group
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