Company News: Volta Resources Last Update: 12 Nov 2010
Press Release: Volta Receives Proceeds of $3,291,928 from the Exercise of Warrants Held By International Finance Corporation (Member of the World Bank Group) and Randgold Resources
- Date: 11 Jun 2010
- Category: Standard Release
- Description: Toronto, ON – June 11th 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces that it has received the proceeds from the acceleration of certain warrants held by International Finance Corporation (“IFC”) (a member of the World Bank Group), and Randgold Resources (“Randgold”), as per the terms of a previous financing agreement (See Volta press release dated March 22, 2010). On May 12th, 2010, the 15 day volume weighted average (“VWAP”) of Volta’s common stock surpassed $1.55 per share, triggering the acceleration of the warrants. IFC and Randgold elected to exercise their 2,702,702 warrants, and 493,345 respectively, at the agreed exercise price of $1.03 per warrant thereby generating gross proceeds of $3,291,928 to the Company.
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