Voltage Metals Corp. Announces Revocation of Cease Trade Order, Private Placement Financing up to $200,000, and Shares for Debt Transaction

TORONTO, Sept. 6, 2023 /CNW/ - Voltage Metals Corp. ("Voltage" or the "Company") (CSE: VOLT) (OTC: VLTMF) announces regulatory and financing developments as follows.

Revocation of Failure to File Cease Trade Order

As of September 1, 2023, the Company had filed its annual and interim financial statements, management's discussion and analysis and required certifications for the financial year ended December 31, 2022, and for the periods ended March 31 and June 30, 2023 (the "Issuer Statements").  In doing so, the Company complied with all terms of the failure to file cease trade order issued by the Ontario Securities Commission on July 6, 2023 pursuant to National Instrument 51-102 – Continuous Disclosure Obligations ("FFCTO").  The Ontario Securities Commission proceeded to issue a revocation order with respect to the FFCTO on September 5, 2023, clearing the way for a resumption in trading of the Company's listed securities. 

The delay in filing the Issuer Statements which are now up to date was due to an unusual event in the Company's last financial year, namely, the reverse takeover transaction as described in detail in the Issuer Statements and as announced previously.  Said transaction prolonged and added to the complexity of the audit of the Company's last financial year.  Management are grateful to the Company's shareholders for their patience.

Private Placement Financing

The Company plans to undertake a non-brokered private placement of up to 6,666,667 common shares at a price of C$0.03 per share to raise gross proceeds of up to C$200,000 (the "Share Offering").     

The Company may pay a finder's fee to certain finders of up to 3% of the aggregate gross proceeds of subscriptions facilitated by such finders. 

The Company intends to use the proceeds of the Share Offering for technical reporting, potential strategic acquisitions, and general working capital.

Shares for Debt Transaction

Additionally, the Company has agreed to issue 1,250,000 common shares at a price of C$0.03 per share, representing partial settlement of payables owed to an arm's length trade creditor for exploration drilling services (the "Debt Settlement").

The Company expects to complete both the Share Offering and Debt Settlement on or about September 15, 2023.  All securities issued pursuant to the Share Offering and Debt Settlement will be subject to a four month hold period in accordance with applicable Canadian securities laws.

About Voltage

Voltage is a critical metals exploration and development company focused on Canadian projects near existing or past-producing mines.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by management. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Voltage Metals Corp.

Jay Freeman, Chairman and Director, Voltage Metals Corp., [email protected]