Volatus Closes Second Tranche of Financing
VOLATUS CAPITAL CORP.
NEWS RELEASE
VOLATUS CLOSES SECOND TRANCHE OF FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
May 22, 2020 CSE Trading Symbol: VC
Volatus Capital Corp. (“Volatus” or the “Company”) announces that, further to its news releases of May 13, 2020 and May 20, 2020, it has closed the second tranche of a non-brokered private placement offering (the “Offering”) and issued an additional 4,533,500 common shares at $0.075 per share for gross proceeds of $340,012.50 (the “Second Tranche”). Included as part of the Second Tranche closing was the settlement of $300,000 of debt owing by the Company through the issuance of shares at $0.075 per share.
The securities issued in the Second Tranche are subject to staggered hold periods expiring as to 1,133,375 common shares (25%) on each of the following dates from issuance: (i) four months and one day (September 23, 2020); (ii) twelve months (May 22, 2021); (ii) eighteen months (November 22, 2021); and
(iv) twenty-four months (May 22, 2022).
No finders fees were paid in the Second Tranche.
The proceeds raised from this Offering will be used by the Company to conduct further exploration work on its properties in British Columbia, project acquisitions, and for general corporate purposes.
Any additional tranches of the Offering are expected to close on or before May 31, 2020.
As a result of closing the Second Tranche, Emma Fairhurst, directly and through private companies controlled by her, acquired an aggregate of 5,045,000 common shares, which together with the 150,000 shares previously held, represents approximately 25.76% of the Company’s issued and outstanding shares following closing of the Second Tranche.
Due to participation by certain officers, directors and significant shareholders, the Offering can be considered a “related party transaction” within the meaning of MI 61-101. The Company is relying on exemptions to the valuation and shareholders’ approval requirements of that instrument as the Company is listed on the CSE and Offering is less than $2,500,000 in aggregate.
About Volatus Capital Corp.
The Company is focused on exploration and development of resources in gold and Battery Metals that have strong demand profiles in the growing green economy.
We seek Safe Harbor.
ON BEHALF OF THE BOARD
“Michael Collins”
Michael Collins, President and CEO For additional information, contact Volatus at 604-681-3170 The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the overall size of the Offering, the proposed use of proceeds and the expected closing of any further tranches thereof) and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forwardlooking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.