Volta Metals Ltd announced a non-brokered private placement of a minimum of 750,000 Flow Through Shares and maximum of up 2,500,000 Flow Through Shares, at a price of CAD 0.20 per Flow-Through Share for a gross proceeds of CAD 500,000 on October 13, 2023. The transaction included participation from certain directors and officers of the Company. The Company may pay finders' fees in connection with the Offering in cash or securities, or a combination thereof.

All securities to be issued under the Offering will be subject to a hold period of four months and one day from their date of issuance in accordance with applicable Canadian securities laws. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange. The Company reserves the right to increase the size of the transaction by up to 25%, such that up to an additional 625,000 Flow Through Shares may be issued to raise aggregate gross process of up to CAD 625,000.