Volta announces the closing of a private placement

Toronto, Ontario–(Newsfile Corp. – June 17, 2024) – Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (“Volta“or the”Business“) is pleased to announce that it has closed its previously announced non-brokered private placement (on “Offer“) by issuing 9,100,000 units of the Company (the “Units“) at a price of $0.05 per unit for total gross proceeds of $455,000.

Each unit consists of one common share of the Company (each, a “Share“) and one-half of one common share purchase warrant of the Company (each whole warrant, one “To guarantee“), each Subscription Warrant entitling its holder to purchase an additional Share of the Company (a “Warrant Action“) at the exercise price of $0.10 per share of warrant for a period of 24 months from the closing of the placement.

The Company will use the net proceeds of the Offering to track exploration targets identified from recently announced drilling results, geophysical surveys and geochemical analyses, during the 2024 summer exploration season and for general corporate purposes. business and working capital of the Company.

As with each financing that the Company has completed to date, the directors and officers of the Company (the “Insiders“) participated in the offering, thereby increasing the insiders’ holdings. The insiders acquired a total of 1,700,000 units in the offering. The issuance of the units to the insiders constitutes a “related party transaction” within the meaning of Multilateral Regulation 61-101 – Protection of minority security holders during special transactions (“MI 61-101“). The Company relies on an exemption from the formal valuation and minority shareholder approval requirements provided by MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)( a) of MI 61-101, on the basis that the participation in the Offer by the Insider does not exceed 25% of the fair market value of the market capitalization of the Company.

Securities issued in connection with the Offerings will be subject to a legal hold period in Canada of four months and one day from the date of issue in accordance with applicable securities laws. Closing of the Offering is subject to receipt of all required regulatory approvals, including the approval of the Canadian Securities Exchange.

ABOUT VOLTA MÉTAUX LTD.

Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) is a Toronto, Ontario-based mineral exploration company focused on lithium, cesium and tantalum. It has optioned and is currently exploring a critical minerals portfolio including lithium, cesium and tantalum projects in northwestern Ontario, considered one of the most prolific and emerging hardrock lithium districts in the world. world. To learn more about Volta and its flagship Falcon West Lithium project, please visit www.voltametals.ca.

ON BEHALF OF THE COUNCIL

For more information, contact:

Kerem Usenmez, President and CEO
Tel: 416.919.9060
Email: [email protected]
Website: www.voltametals.ca

Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements regarding product development, plans, strategies and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact included in this press release are forward-looking statements that involve risks and uncertainties. Forward-looking information contained in this press release includes, but is not limited to, the anticipated use of the net proceeds from the offerings and the receipt of all necessary approvals for the offering. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include: risks detailed from time to time in the Company’s filings with securities regulators; the fact that Volta’s interests in its mineral properties are only options and that there is no guarantee that such interests, if earned, will be certain; future lithium prices and demand; and delays or inability of the Company to obtain approvals, permits and authorizations necessary to carry out its business plans. The reader is cautioned that assumptions used in preparing any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated, due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. The reader is cautioned not to place undue reliance on forward-looking statements. This information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than what is required by law.

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