Volatus Closes Final Tranche of Financing and Invests in Origen Resources Inc.
VOLATUS CAPITAL CORP.
NEWS RELEASE
VOLATUS CLOSES FINAL TRANCHE OF FINANCING AND INVESTS IN ORIGEN RESOURCES INC.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
May 29, 2020 CSE Trading Symbol: VC
Volatus Capital Corp. (“Volatus” or the “Company”) is pleased to announce that it has closed the final tranche of a non-brokered private placement offering (the “Offering”) and issued an additional 2,230,000 common shares at $0.075 per share for gross proceeds of $167,250.00 (the “Final Tranche”).
The securities issued in the Final Tranche are subject to staggered hold periods expiring as to 557,500 common shares (25%) on each of the following dates from issuance: (i) four months and one day (September 30, 2020); (ii) twelve months (May 29, 2021); (ii) eighteen months (November 29, 2021); and
(iv) twenty-four months (May 29, 2022).
No finders fees were paid in the Final Tranche.
The Offering was originally announced by news release on May 13, 2020 and previous tranches closed on May 20, 2020 and May 22, 2020. A total of 16,753,500 common shares were issued for gross proceeds of $1,256,512.50 The proceeds raised will be used by the Company to conduct further exploration work on its properties in British Columbia, project acquisitions, and for general corporate purposes.
The Company further announces that it intends to acquire 400,000 units (the “Private Placement Units”) of Origen Resources Inc. (“Origen”, a junior mining exploration company listed on the Canadian Securities Exchange) by way of private placement for investment purposes. The Private Placement Units are priced at $0.18 each for a total investment of $72,000. Each Private Placement Unit consists of one common share of Origen and one common share purchase warrant to acquire an additional common share at a price of $0.22 for a period of two years.
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.