logo-loader
viewVolt Resources Ltd

Volt Resources lodges draft prospectus for proposed Stock Exchange of Mauritius note issue and listing

The expected timeframe for approval from sole regulator Stock Exchange of Mauritius is about 4 weeks.

Volt Resources Ltd - Volt Resources lodges draft prospectus for proposed Stock Exchange of Mauritius note issue and listing
The company is focused on finalising development funding and starting stage-one development work of the Bunyu Graphite Project

Volt Resources Ltd (ASX:VRC) has lodged for approval the draft prospectus for its wholly owned subsidiary Volt Graphite Tanzania plc’s proposed note issue and listing on the Stock Exchange of Mauritius.

The note issue and listing do not require Tanzanian government approval, allowing Volt Graphite to issue the SEM prospectus and begin the fundraising process immediately after approval is granted.

Dar es Salaam Stock Exchange listing being finalised

Approval for Volt Graphite’s note issue and listing on the Dar es Salaam Stock Exchange is being finalised through ongoing discussions with the relevant government authorities.

Recent discussions indicate the approval process has advanced in terms of priority.

Ongoing discussions with institutional funds

Discussions are also being undertaken with African banks and North American institutional funds in support of Volt’s stage-one funding strategy.

Volt expects these discussions will further develop once final approvals are received and funding progresses with both the Tanzanian and Mauritian note issues.

Outstanding loans fully repaid

The company has also fully repaid the outstanding loan notes due to Riverfort Global Capital and Yorkville Advisors after receiving funds from Volt’s recently completed share purchase plan and top-up placement which raised about $1.65 million in total.

The capital raising closed oversubscribed and was well supported by existing shareholders, eligible directors and chief executive officer Trevor Matthews, who all took up their maximum allocation.

Quick facts: Volt Resources Ltd

Price: 0.013 AUD

ASX:VRC
Market: ASX
Market Cap: $20.87 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Volt Resources Ltd named herein, including the promotion by the Company of Volt Resources Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Volt Resources strives to be leading natural flake graphite producer

Volt Resources Ltd (ASX:VRC) CEO Trevor Matthews details progress and aspirations for the Bunyu Graphite Project in Tanzania, as demand and supply for the commodity shifts, sending up prices. Speaking about a potential note issue on the Dar es Salaam Stock Exchange, Matthews says, "we're...

on 18/4/18

2 min read