Update on Mauritian Note Offer

Update on Mauritian Note Offer

Volt wishes to advise that the closing date of the Company’s Mauritian Note Offer has been extended.

African focussed gold and graphite explorer and developer Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) wishes to advise that the closing date of the Company’s Mauritian Note Offer (“Note Offer”) has been extended.

The Note Offer opened on January 27 and is now planned to close by 30 September 2020. The first day of trading of the Notes on the Stock Exchange of Mauritius DEM is expected to be 6 October 2020.

As previously advised (see ASX release dated 28 January 2020), Volt’s wholly owned subsidiary Volt Graphite Tanzania Plc (“VGT”), is aiming to raise US$15,000,000 through the issue of Senior Notes – with a greenshoe option of up to US$15,000,000 – to raise a total of US$30,000,000 by way of private placing on the Development and Enterprise Market (“DEM”) of the Stock Exchange of Mauritius (“SEM”).

Due to the widespread and continuing impact of the COVID-19 pandemic on financial markets where the Senior Notes are being marketed combined with the associated delays as institutions and investment groups change their work arrangements leading to the deferral of investment decisions and travel restrictions significantly impacting the Company’s ability to market the Senior Notes, the Company is providing additional time for investors to complete their internal due diligence and investment approval
process and allow the Company the opportunity to appropriately market the Senior Notes.

Authorised by:

Trevor Matthews
Managing Director
Volt Resources Limited


FOR PERSONAL USE ONLY
For further information please contact:

Trevor Matthews
Managing Director
Tel: +61 8 9486 7788