Volt Carbon Technologies Inc V.VCT

Alternate Symbol(s): TORVF

Metals & Mining Industrial Metals & Minerals

Volt Carbon Technologies Inc. is a Canada-based carbon science company, with specific interests in energy storage and green energy creation. The Company’s operations are focused on exploring mineral properties and developing its air classifier technology. The Company holds mining claims in the provinces of Ontario, Quebec and British Columbia in Canada. The Company’s wholly owned subsidiary, Solid Ultrabattery Inc., is focused on developing its battery technology. The Company operates through two segments: Research & Development, and Mineral Exploration. The Company holds mineral rights and multiple historic molybdenum properties in British Columbia and a graphite property in Quebec, which include Red Bird Property, Mount Copeland Property, Lochaber Property, Manitouwadge Graphite Property and Abamasagi Lithium Property. The Company operates a battery fabrication facility in Guelph, Ontario, and a carbon research facility in Scarborough, Ontario.

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Volt Carbon Technologies Inc > Recent funding

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Comment by dalesio_98on Apr 10, 2023 4:21pm

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Post# 35387310

RE:Recent funding

dalesio_98 wrote:
Closing of First Tranche of Private Placement for gross proceeds of $244,000

The recent funding was from an insider.

Why is the transaction not yet reported at SEDI and at canadianinsider.ca??

Late insider trade fine coming up?

"An insider of the Company purchased or acquired direction and control over a total of 625,000 Units under the First Tranche of the Offering. Such participation will be considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the First Tranche of the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves related parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101). A material change report was not filed at least 21 days before the closing of the First Tranche. The Company considers this to be reasonable and necessary in the circumstances as the total amount to be invested by the applicable insider was not settled until shortly prior to the closing of the First Tranche and to allow the Company to close the First Tranche on an expedited basis for sound business reasons, including for general working capital purposes.
The Company expects to close the second tranche of the Offering on or before April 10th, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange."

Example of an insider trade for PYR financing:

https://www.canadianinsider.com/node/7?menu_tickersearch=PYR+%7C+PyroGenesis+Canada

Mar 9/23	Mar 7/23	Pascali, Photis Peter	Direct Ownership	Warrants	16 - Acquisition under a prospectus exemption	2,500,000
Mar 9/23	Mar 7/23	Pascali, Photis Peter	Direct Ownership	Common Shares	16 - Acquisition under a prospectus exemption	2,500,000	$1.00