Volt Lithium Corp. announced a private placement of up to 5,070,218 HD Units at an issue price of CAD 0.22 for the gross proceeds of CAD 1,115,447.96 and up to 358,333 FT units at an issue price of CAD 0.24 for the gross proceeds of CAD 85,999.92 for aggregate proceeds of CAD 1,201,447.88 on July 28, 2023. Each FT Unit will consist of one common share and one-half of one common share purchase warrant and each HD Unit will consist of one common share and one-half of one warrant.

Each Warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.33 for 24 months following the completion of the transaction. The Agents will receive up to 3% of the gross proceeds of the units sold in the transaction. The broker warrants are exercisable at any time, at a price of CAD 0.22 per broker warrant, from the date of completion of the transaction, which is anticipated to be the closing date, to the date that is 24 months from such date, to acquire in aggregate that number of HD units.

The transaction is subject to necessary approval from regulatory and TSX venture exchange. The transaction is expected to close on August 4, 2023.