Mr. V-Bond Lee reports

VOLT CARBON TECHNOLOGIES ANNOUNCES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1,035,900

Volt Carbon Technologies Inc. has closed the flow-through private placement previously announced on Dec. 15, 2023, by placing an aggregate of 11.51 million units at a price of nine cents per unit for gross proceeds of $1,035,900. All securities as part of the offering are subject to a four-month-and-one-day hold period.

Each unit comprises one common share in the capital of the company issued on a flow-through basis pursuant to the provisions of the Income Tax Act (Canada) (as defined herein) at a price of nine cents per flow-through share and one-half of a common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one additional common share in the capital of the corporation at an exercise price of 13.5 cents per warrant share for a period of 24 months from closing.

In connection with the closing of the offering, the company paid cash finders' fees to Bellotti Capital (BC) and EMD Financial Inc. in an aggregate amount of $91,611, which represents 9 per cent of the aggregate gross proceeds received from subscribers for units sold to subscribers pursuant to the offering as a result of the efforts of the finders. The finders were also issued an aggregate of 1,017,900 warrants equal to 9.0 per cent of the number of units sold to subscribers pursuant to the offering as a result of the efforts of the finder. Each finder option will entitle the finder to a unit at a price of nine cents per finder unit. Each finder unit will comprise one common share in the capital of the company and one-half of a common share purchase warrant. Each whole finder warrant shall entitle the finder to purchase one additional common share at an exercise price of 13.5 cents per finder warrant share for a period of 24 months from closing.

The company will use the net proceeds of the offering to incur qualifying Canadian exploration expenses, as such term is defined in the Income Tax Act (Canada).

About Volt Carbon Technologies Inc.

Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation, with holdings in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada.

We seek Safe Harbor.