Company News: Volta Resources Last Update: 12 Nov 2010
Press Release: IFC TO INVEST UP TO $8,000,000 IN VOLTA RESOURCES
- Date: 04 Mar 2010
- Category: Standard Release
- Description: Toronto, ON – January 12, 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX:VTR) announces that it has signed a Proposal Letter with the International Finance Corporation (“IFC”), a member of the World Bank Group. Pursuant to the Proposal Letter the IFC would initially invest up to C$4 million to acquire up to 5,405,405 million Volta units (“Units”) at a price of C$0.74 per Unit. Each Unit consists of one common share of the Company and one half of a share purchase warrant. Each full share purchase warrant is exercisable into one common share of the Company at an exercise price of C$1.03 for a period of five years. The expiry date of the warrants would be accelerated if at any time during the warrant exercise period, the 15-day volume weighted average price (“VWAP”) exceeds C$1.55.
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