Volt Resources received commitments to raise AU$10 million to accelerate Graphite Anode production

Volt Resources Limited (ASX: VRC) has received firm commitments from professional and sophisticated investors to subscribe for 555,555,556 fully paid ordinary shares at AU$0.018 per share to raise AU$10.0 million. The issue price of AU$0.018 per Placement Share under the Placement represents a 5.3% discount to the closing price.

Proceeds will be utilised to advance Volt’s integrated graphite battery materials business plans as follows:

• Undertake a feasible study for a commercial scale LIB active anode material production facilities.
• Continue the production of testwork samples for battery anode material as well as cathode conductive additive for lithium-Ion battery (LIB) cell manufacturers, ultra-high purity graphite for alkaline batteries, and lead acid batteries.
• Complete the update of the Bunyu Stage 1 Feasibility Study.
• Provide working capital to achieve stable state graphite production at the Zavalievsky mine plus processing facilities in Ukraine.
• Corporate expenses and working capital.

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