Volt Resources Limited Secures $1.226 Million to Drive Strategic Projects

Highlights:

• Successful Capital Raise: Volt Resources Limited (ASX: VRC) raised $1.226 million through a well-supported placement at $0.0026 per share, reflecting strong shareholder confidence.
• Strategic Fund Allocation: Funds will be utilized to repay a $500,000 loan, advance the Bunyu Graphite Project, develop high-purity graphite products, and cover operational costs.
• Investor Confidence: Directors Asimwe Kabunga and Dominic Virgara committed a combined $404,000, underscoring belief in Volt’s strategic initiatives and growth potential.

Capital Raise to Strengthen Financial Position

Volt Resources Limited (ASX: VRC), a leading graphite producer and advanced materials developer, has successfully raised $1.226 million through a placement of 471,538,461 new fully paid ordinary shares at an issue price of $0.0026 per share. The funds will be pivotal in repaying debt, advancing key projects, and supporting the company’s operational goals.

Strong Shareholder Backing

The placement received robust support from Volt’s top 20 shareholders, reflecting confidence in the company's strategic direction. Notably, Executive Chairman Asimwe Kabunga and Non-Executive Director Dominic Virgara committed $200,000 and $204,000 respectively, subject to shareholder approval. At the time of writing, Volt Resources’ shares traded at $0.0026, aligning with the placement price.

Allocation of Funds

The raised capital will be used to:

1. Repay $500,000 loan from RiverFort.
2. Advance the Bunyu Graphite Project in Tanzania from proposals to development.
3. Develop high-purity graphite products and processes.
4. Cover general working capital, tenement license fees, and corporate costs.

Competitive Pricing

The issue price of $0.0026 per share represents a 17.5% discount to the 20-day VWAP before Volt’s trading halt on January 13, 2025. This pricing strategy underscores Volt’s commitment to balancing shareholder interests while securing essential funds.

Management Perspective

Executive Chairman Asimwe Kabunga highlighted the significance of this capital raise amidst challenging market conditions for graphite. “The support shown by investors reaffirms the value of Volt’s assets and our commitment to delivering long-term shareholder value,” he stated.

Volt Resources remains steadfast in its vision to become a global leader in critical minerals, with this capital injection marking a key step toward achieving its ambitious goals.

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