Mr. V-Bond Lee reports

VOLT CARBON TECHNOLOGIES ANNOUNCES $700,000 PRIVATE PLACEMENT

Volt Carbon Technologies Inc. intends to complete a non-brokered private placement financing of up to 10 million units at a price of seven cents per unit for gross proceeds of up to $700,000.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share in the capital of the company at an exercise price of 12 cents per warrant share for a period of 36 months from the date of issuance. All securities issued under the offering will be subject to a four-month-plus-one-day hold period.

In connection with the offering, the company may pay cash finders' fees to certain arm's-length eligible finders equal to 8 per cent of the aggregate gross proceeds received by the company from purchasers of units sourced by the finders.

The company intends to use the proceeds of the offering to pay outstanding payables, purchase additional equipment to advance battery and mineral separation technology, evaluate and potentially option additional mineral claims, and for working capital. Although the company intends to use the proceeds of the offering as described herein, the actual allocation of net proceeds may vary from the uses set forth herein, depending on future operations or unforeseen events or opportunities.

Closing of the offering is subject to customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange. The company anticipates closing the first tranche of the offering on or about April 13, 2024. The final tranche is expected to close on or about May 3, 2024.

The company has been advised by a number of its insiders, including V-Bond Lee, Glen Nursey and Carmelo Marrelli, that they intend to subscribe, directly or indirectly, for a minimum aggregate of $110,100 (1,572,857 units) of the offering. If the offering is not fully subscribed, the insider subscriptions could account for more than 25 per cent of the proceeds of the offering.

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.

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