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CALGARY - Volt Carbon Technologies Inc. (TSXV:VCT) (OTCQB:TORVF), a micro-cap company with a market capitalization of $3.78 million, announced Tuesday it has received approval from the TSX Venture Exchange to increase the size of its non-brokered private placement to 11 million units at $0.02 per unit, raising gross proceeds of up to $220,000. According to InvestingPro data, the company has been rapidly burning through cash, with a concerning current ratio of 0.15.
Each unit consists of one common share and one common share purchase warrant. The closing of the offering remains subject to customary conditions and regulatory approvals, including final TSX-V approval.
The company stated it plans to use the proceeds to advance its battery and mineral separation technologies, pay outstanding payables, and for general working capital purposes. InvestingPro analysis reveals a weak overall financial health score of 1.46, highlighting the importance of this capital raise.
This announcement follows the company’s previous statements regarding the private placement issued on July 31 and August 12, 2025.
Volt Carbon Technologies describes itself as a carbon science company focused on energy storage and green energy creation, with mining claims in Ontario, Quebec, and British Columbia. The company’s stock has experienced significant pressure, with a year-to-date decline of 42.34% and revenue contracting by 28.93% over the last twelve months.
The information was disclosed in a company press release statement.
In other recent news, Volt Carbon Technologies Inc. announced the closing of the first tranche of its previously disclosed private placement. The company successfully raised C$100,000 through the issuance of 5 million units, each priced at C$0.02. Each unit includes one common share and one warrant, with the warrant providing the holder the option to purchase an additional common share at C$0.05 for 24 months. All securities from this tranche will be subject to a holding period of four months and one day. These developments reflect the company’s ongoing efforts to secure funding.
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