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Vancouver, B.C. – TheNewswire - October 5, 2022 ‐ Volatus Capital Corp. (CSE:VC) (the “Company” or “Volatus”) is pleased to announce that it has closed the second tranche of its non-brokered private placement announced on September 6, 2022 (the “Offering”). The Company has raised an additional $115,000 through the issuance of 2,000,000 flow through units (the “FT Units”) and 300,000 non-flow through units (the “NFT Units”) at a price of $0.05 per FT Unit & NFT Unit.
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 expiring October 5, 2027.
All securities issued in the second tranche are subject to a four month hold period expiring February 6, 2023. 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.
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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
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