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Volatus Capital Corp (2)
Symbol VC
Shares Issued 5,641,667
Close 2020-05-22 C$ 0.12
Recent Sedar Documents

Volatus closes $340,012 second tranche of placement

2020-05-22 20:36 ET - News Release

Mr. Michael Collins reports

VOLATUS CLOSES SECOND TRANCHE OF FINANCING

Further to the news releases of May 13, 2020, and May 20, 2020, Volatus Capital Corp. has closed the second tranche of a non-brokered private placement offering and issued an additional 4,533,500 common shares at 7.5 cents per share for gross proceeds of $340,012.50. Included as part of the Second Tranche closing was the settlement of $300,000 of debt owing by the Company through the issuance of shares at $0.075 per share.

The securities issued in the Second Tranche are subject to staggered hold periods expiring as to 1,133,375 common shares (25%) on each of the following dates from issuance: (i) four months and one day (September 23, 2020); (ii) twelve months (May 22, 2021); (ii) eighteen months (November 22, 2021); and (iv) twenty-four months (May 22, 2022).

No finders fees were paid in the Second Tranche.

The proceeds raised from this Offering will be used by the Company to conduct further exploration work on its properties in British Columbia, project acquisitions, and for general corporate purposes.

Any additional tranches of the Offering are expected to close on or before May 31, 2020.

As a result of closing the Second Tranche, Emma Fairhurst, directly and through private companies controlled by her, acquired an aggregate of 5,045,000 common shares, which together with the 150,000 shares previously held, represents approximately 25.76% of the Company's issued and outstanding shares following closing of the Second Tranche.

Due to participation by certain officers, directors and significant shareholders, the Offering can be considered a "related party transaction" within the meaning of MI 61-101. The Company is relying on exemptions to the valuation and shareholders' approval requirements of that instrument as the Company is listed on the CSE and Offering is less than $2,500,000 in aggregate.

About Volatus Capital Corp.

The Company is focused on exploration and development of resources in gold and Battery Metals that have strong demand profiles in the growing green economy.

We seek Safe Harbor.

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