Calgary, Alberta--(Newsfile Corp. - September 23, 2024) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) ("Volt Carbon" or the "Company") with reference to its prior news releases dated July 22, 2024, July 30, 2024 and August 13, 2024 is pleased to announce that the Company closed the final tranche of the private placement by issuing 1,111,112 units ("Units") at a price of $0.045 per Unit for gross proceeds of $50,000.04.

In total, the Company has raised an aggregate amount of $250,025.04 through the issuance of 5,556,112 Units at a price of $0.045 per Unit. Each Unit consists of one common share in the capital of the Company, issued on a flow-through basis pursuant to the provisions of the Income Tax Act (Canada) (each, a "Flow-Through Share"), at a price of $0.045 per Flow-Through Share. All securities issued as part of the Offering are subject to a four-month-and-one-day hold period.

In connection with the initial tranche of the Offering, (i) a cash finder's fee in the amount of $14,001.75 and (ii) 311,150 non-transferable finder warrants (together the "Finder Warrants" and each a "Finder Warrant"), are to be paid to Red Cloud Securities Inc. (the "Finder"), who is arm's length to the Company. Each Finder Warrant will entitle the Finder to purchase one (1) common share (each a "Finder's Warrant Share") at an exercise price of $0.05 per Finder's Warrant Share for a period of 24 months from closing. The Private Placement remains subject to the final approval of the TSX Venture Exchange.

The Company will use the net proceeds of the Offering to incur qualifying "Canadian exploration expenses" as such term is defined in the Income Tax Act (Canada).

About Volt Carbon Technologies
Volt Carbon Technologies Inc. is a publicly traded company focused on advancing carbon science, with a strong emphasis on energy storage solutions and green energy innovation. The company holds strategic mining claims across Ontario, Quebec, and British Columbia, Canada. Volt Carbon operates a state-of-the-art battery fabrication facility in Guelph, Ontario, and a dedicated Carbon Research Facility in Scarborough, Ontario. For the latest updates on the company's projects and developments, please visit our website at www.voltcarbontech.com.

On behalf of the Board of Directors,

Volt Carbon Technologies Inc.
V-Bond Lee, P. Eng.
CEO, President, Chairman of the Board and Director

Information Contact :
Email: [email protected]
Tel: (647-546-7049)