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The non-brokered private placement will include up to 15 million units at a price of $0.14 each. Each unit will contain one common share and one warrant, with the latter exercisable into one common share at a price of $0.20 each for a period of 24 months from closing.
The funds raised will also be used to evaluate new projects in the battery metals space and for general purposes.
Voltaic is creating a three-dimensional geologic model of the Green Energy property by compiling historic oil well log data and matching it with concurrent two-dimensional seismic data to better understand the orientation of the target horizon.
Once completed, the company will be in a position to better target potential well head sites and begin modelling the horizon for the potential resource. The desktop study will also act as an exploration tool that could point to additional perspective horizons on the property.
