Volt Lithium Announces $5 Million Marketed Public Offering of Units and $1.1 Million Concurrent Private Placement of Units

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Volt Lithium Announces $5 Million Marketed Public Offering of Units and $1.1 Million Concurrent Private Placement of Units - Benzinga

Quick Summary:

CALGARY, Alberta, Nov.11, 2024 (GLOBE NEWSWIRE) -- Volt Lithium Corp.(TSXV:VLT) ("Volt" or the "Company") is pleased to announce that it has entered into an engagement letter with Canaccord Genuity Corp.("Canaccord Genuity" or the "Agent") pursuant to which the Canaccord Genuity has agreed to lead, on a "best-efforts" marketed basis, a public offering (the "Offering") of up to 16,200,000 units of the Company (the "Units") at a price of $0.31 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of up to $5,000,000.

The Concurrent Private Placement

In addition to the Offering, the Company intends to issue to certain accredited investors, on a private placement basis, concurrent with the closing of the Offering, up to approximately 3,550,000 Units at the Offering Price for gross proceeds to the Company of up to approximately $1,100,000 (the "Concurrent Private Placement"). The Agent will receive up to 3% of the gross proceeds of the Units sold to purchasers under the Concurrent Private Placement and that number of Broker Warrants exercisable at any ...