Voltaic Minerals (VLT.V), the reincarnation of Prima Diamond, has closed a second tranche of its previously announced financing, bringing the total proceeds to C$765,000. As a brief reminder, Voltaic has issued 15.3 million units at C$0.05 with each unit consisting of one common share of Voltaic and a full warrant exercisable for two years at C$0.075 in the first year and C$0.10 in the second year (keep in mind these amounts are pre-reverse split).
Right after this financing has been completed, Voltaic closed the acquisition of the Green Energy Lithium property in Utah, as the company wants to benefit from the current ‘lithium rush’. The acquisition terms seem to be quite favorable as the total acquisition cost to own 100% of the property is just C$10,000 in cash payable to Zimtu Capital (ZC.V) and to issue 3 million shares to Mesa Exploration (MSA.V).
We expect Voltaic to release an update on the property pretty soon, and we’re looking forward to see what the plans for the remainder of 2016 are!
Go to Voltaic’s website (under construction)
The author has no position in Voltaic Minerals. Voltaic isn’t a sponsor of the website, but parent company Zimtu Capital is. Please read the disclaimer
