Business
Volta Announces Closing of $2.8 Million Oversubscribed and Upsized Private Placement
Toronto, Ontario--(Newsfile Corp. - December 23, 2025) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTC Pink: VOLMF) ("Volta" or the "Company") is pleased to announce the closing of an oversubscribed and upsized non-brokered private placement for gross proceeds of $2,810,508 (the "Offering"). The Offering was comprised of the issuance of 12,219,601 common shares of the Company issued on a "flow-through" basis (each, a "FT Share") at a subscription price of $0.23 per FT Share. The FT Shares will..
About this update from Volta Metals Ltd
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 23, 2025) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTC Pink: VOLMF) ("Volta" or the "Company") is pleased to announce the closing of an oversubscribed and upsized non-brokered private placement for gross proceeds of $2,810,508 (the "Offering"). The Offering was comprised of the issuance of 12,219,601 common shares of the Company issued on a "flow-through" basis (each, a "FT Share") at a subscription price of $0.23 per FT Share.","length":529,"tagName":"p"},{"type":"text","content":"The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada).","length":134,"tagName":"p"},{"type":"text","content":"The Company will use the gross proceeds from the sale of the FT Shares to incur eligible "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") on or before December 31, 2026. The Company plans to initiate a second-phase drill program to further explore its recently acquired Springer advanced Rare Earth and Gallium Deposit and explore its Aki Critical Minerals Project. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units with an effective date not later than December 31, 2025.","length":688,"tagName":"p"},{"type":"text","content":"As in every financing the Company has completed to date, whereby certain directors and officers of the Company have participated in such financings, thereby increasing insiders' holdings, a director of the Company acquired an aggregate of 87,000 FT Shares under the Offering. Such participation in the Offering by such director constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the participation in the Offering by such director does not exceed 25% of the fair market value of the Compan...