Voltaic Minerals Corp. Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia (FSCwire) - Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P61) (the “Company”) is pleased to announce that, further to its News Release of March 23, 2018, it has completed its non-brokered private placement financing (the “Financing”) pursuant to which it sold an aggregate of 7,509,285units (each, a “Unit”), at a price of $0.14 per Unit, for gross proceeds of $1,051,299.90.
Each Unit consists of one common share (each, a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one common share at a price of $0.20 per Share until April 23, 2020.
Proceeds from the private placement will be used for process development evaluation as well as evaluation of new projects in the battery metals space. The capital will also be used for general purposes.
An insider of the Company subscribed a total of 645,000 Units under the Financing, which is a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the insider in the private placement was exempt from the valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(b) and 5.7(b) of MI 61-101.
The securities issued under the Financing, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on August 24, 2018.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
“Darryl Jones”
Darryl Jones
President and CEO
Tel: 604.681.1568
info@voltaicminerals.com
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 release.
To view the original release, please click here
Source: Voltaic Minerals Corp. (TSX Venture:VLT, FWB:2P61, OTC Pink:VTCCF)
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