Volt Carbon Technologies Inc. announced a Flow-Through private placement financing of up to 12,000,000 Units at an issue price of CAD 0.09 per unit for the gross proceeds of CAD 1,080,000 on December 15, 2023. Each Unit is composed of one common share and one half of a common share purchase warrant. Each whole Warrant will entitle the holder thereof to acquire one additional common share at an exercise price of CAD 0.135 per Warrant Share for a period of 24 months from the date of issuance.

The Company intends to pay, to certain arm's length finder a finder's fee equal to a cash commission of 9.0% of the aggregate gross proceeds received from subscribers for Units sold to subscribers pursuant to the Offering as a result of the efforts of the Finder; and a number of warrants equal to 9% of the number of Units sold to subscribers pursuant to the Offering as a result of the efforts of the Finder. Each Finder's Option will entitle the Finder to a unit at a price of CAD 0.09 per Finder's Unit. Each Finder's Unit will be comprised of one common share and one half of a common share purchase warrant.

Each whole Finder's Warrant shall entitle the Finder to purchase one additional common share at an exercise price of CAD 0.1035 per Finder's Warrant Share for a period of 24 months from the issuance of the Finder's Option. The financing is expected to close within approximately 7 business days. All securities issued as part of the Offering will be subject to a four month and one day hold period.

No Insiders intend to participate in the placement and no new Control Persons will be created by the Flow-Through private placement. Closing of the Placement is subject to customary conditions and regulatory approvals including the approval of the TSX Venture Exchange. The Company is pleased to announce that it will host the Annual General Meeting of Shareholders on February 13, 2024.