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Volt Carbon Technologies Inc. — Capital/Financing Update 2022
Feb 2, 2022
45455_rns_2022-02-02_19a4292f-3730-4014-afc6-fc8f1ee404f8.pdf
Capital/Financing Update
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FORM 51-102F3 MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
Saint Jean Carbon Inc. (“ Saint Jean ” or the “ Company ”) Suite 117 – Arcuri Business Centre 70 Country Hills Landing NW Calgary, Alberta T3K 2L2
Item 2. Date of Material Change
January 31, 2022.
Item 3. New Release
A new release with respect to the material change was issued by the Company on February 1, 2022 and disseminated in Canada throughout the facilities of GlobeNewswire.
Item 4. Summary of Material Change
On January 31, 2022, the Company announced that it closed the first tranche (the “ First Tranche ”) of the private placement announced on January 24, 2022 (the “ Offering ”). The Company announced that it had raised a total of $700,000 by placing 5,600,000 units (“ Common Units ”) at a price of $0.125 per Common Unit.
Item 5. Full Description of Material Change
On January 31, 2022, the Company announced that it closed the First Tranche of the Offering. The Company announced that it had raised a total of $700,000 by placing 5,600,000 Common Units at a price of $0.125 per Common Unit.
Each Common Unit consists of one (1) common share in the capital of the Company (“ Common Share ”) and one-half of one (0.5) common share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant entitles the holder to purchase one additional share (a “ Warrant Share ”) at an exercise price of $0.25 per Warrant Share until January 31, 2024.
The Company intends to use the proceeds of the First Tranche to further the Company’s battery technology development and for working capital. Although the Company intends to use the proceeds of the First Tranche as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities.
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| All securities issued as part of the First Tranche will be subject to a four month | ||
|---|---|---|
| and one day hold period. | ||
| Item | 6. | Reliance of subsection 7.1(2) of National Instrument 51-102 |
| Not applicable. | ||
| Item | 7. | Omitted Information |
| None. | ||
| Item | 8. | Executive Officer |
| William Pfaffenberger, Chairman of the Board, CEO and President | ||
| Telephone: (250) 381-6181. | ||
| Item | 9. | Date of Report |
| February 1, 2022. |
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