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Calgary, Alberta, Canada, Oct. 24, 2022 (GLOBE NEWSWIRE) — Volt Carbon Technologies Inc. (“Volt” or the “Company”) (TSX-V: VCT) is happy to announce that the Company has agreed to settle an impressive debt within the quantity of USD $188,464.25 (CAD $241,686.55) (the “Debt”) owing to an arm’s size creditor by issuing an mixture of two,843,371 frequent shares within the capital of the Company (the “Common Shares”) at a worth of $0.085 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has decided it’s in the perfect pursuits of the Company to settle the excellent Debt by the issuance of the Common Shares in an effort to protect the Company’s money for ongoing operations.
Closing of the Shares for Debt Transaction is topic customary closing circumstances, together with the prior approval of the TSX Venture Exchange. The Company intends to shut the Shares for Debt Transaction as quickly as practicable following receipt of the approval from the TSX Venture Exchange. The Common Shares to be issued pursuant to the Shares for Debt Transaction can be topic to a maintain interval of 4 (4) months and one (1) day from the date of issuance.
On behalf of the Board of Directors
Volt Carbon Technologies Inc.
Dr. William Pfaffenberger, Chairman of the Board, CEO and President
Information Contact:
Email: [email protected]
Tel: (250) 381-6181
Neither TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this launch.
FORWARD LOOKING STATEMENTS: This press launch incorporates forward-looking statements, inside the which means of relevant securities laws, regarding Volt’s business and affairs. In sure circumstances, forward-looking statements could be recognized by way of phrases akin to ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, “intends” ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such phrases and phrases or state that sure actions, occasions or outcomes ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’.
These forward-looking statements are based mostly on present expectations, and are naturally topic to uncertainty and adjustments in circumstances that will trigger precise outcomes to vary materially. Although Volt believes that the expectations represented in such forward-looking statements are affordable, there could be no assurance that these expectations will show to be appropriate. Such statements embrace statements with respect to: (i) the receipt of the approval for the Shares for Debt Transaction from the TSX Venture Exchange; and (ii) the meant timing of the closing of the Shares for Debt Transaction. Forward-looking statements contain important dangers and uncertainties, shouldn’t be learn as ensures of future efficiency or outcomes, and won’t essentially be correct indications of whether or not or not such outcomes can be achieved. A variety of elements, together with these mentioned above, may trigger precise outcomes to vary materially from the outcomes mentioned within the forward-looking statements. Any such forward-looking statements are expressly certified of their entirety by this cautionary assertion.
All of the forward-looking statements made on this press launch are certified by these cautionary statements. Readers are cautioned to not place undue reliance on such forward-looking statements. Forward-looking info is offered as of the date of this press launch, and Volt assumes no obligation to replace or revise them to mirror new occasions or circumstances, besides as could also be required below relevant securities laws.
