Volt Resources Provides Update on Zavalievsky Graphite Payment

Volt Resources Limited (ASX: VRC) has provided an update on the deferred payment related to the Share Purchase Agreements (SPAs) with the four selling shareholders. In July 2021, Volt paid the first installment of US$3.8 million and received a 70% interest in the Zavalievsky Graphite (ZG) group companies. The final deferred payment of US$3.8 million was scheduled for July 2022, acting as an unsecured loan from the Sellers to Volt.

The company is currently working with its legal advisor in Ukraine to finalize its claims and aims to significantly reduce or offset the deferred payment liability. No legal proceedings have been initiated by either party yet, and Volt has until July 2024 to submit its claims. Further information on the progress will be provided as developments unfold.

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