VOLATUS Announces Non-Brokered Private Placement and Closes First Tranche
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Vancouver - September 6, 2022 ? Volatus Capital Corp. (CSE:VC) (the "Company" or "Volatus") is pleased to announce a non-brokered private placement of $1,500,000 through the issuance of up to 30,000,000 units comprised of a combination of flow through units (the "FT Units") at a price of $0.05 per FT Unit and non-flow through units (the "NFT Units") at a price of $0.05 per NFT Unit (the "Offering").
Each FT Unit consists of one common share which will be designated as a flow through share (a "FT Share") pursuant to the Income Tax Act (Canada) and one common share purchase warrant. Each NFT Unit consists of one non flow-through common share of the Company (a "NFT Share") and one common share purchase warrant. Each warrant (a "Warrant") entitles the holder to purchase one non-flow through common share of the Company (the "Warrant Share") at $0.06 per Warrant Share for a period of five years from closing of the Offering.
All securities issued will be subject to a four month hold period from the date of the issuance of such securities. The Company may pay finder's fees in accordance with the policies of the Canadian Securities Exchange. The proceeds from the sale of the FT Units will be used for mineral exploration and the proceeds from the NFT Units will be used for general working capital.
The Company also announces closing of the first tranche (the "First Tranche") of the Offering. The Company has raised a total of $717,500 through the issuance of 4,750,000 FT Units and 9,600,000 NFT Units at a price of $0.05 per FT Unit & NFT Unit. Each underlying Warrant issued in the first Tranche of the Offering entitles the holder to purchase one additional common share of the Company at a price of $0.06 for a term of five years expiring September 6, 2027. All securities issued in the First Tranche are subject to a four month hold period expiring January 7, 2023.
About Volatus Capital Corp.
Volatus is focused on exploration and development of resources in gold and copper in the Toodoggone district of north-central British Columbia, as well as magnesite in South Australia and battery metals that have strong demand profiles in the growing green economy.
FOR FURTHER INFORMATION CONTACT:
Christopher Reynolds
President & CEO
Volatus Capital Corp.
Telephone: 778-819-2710
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
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