Volt Lithium Corp. (VLT:TSV; VLTLF:US) has announced that it has terminated two existing option agreements related to the copper assets that were part of its predecessor's portfolio. These copper assets were not being pursued as part of Volt's strategy. With the termination of these agreements, Volt's asset base has been streamlined and offers investors exposure to a growing, pure-play lithium development and technology company aiming to be North America's first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine.
The two terminated option agreements include the option to acquire a 100% interest in the Stateline Property, pursuant to an option agreement among Cloudbreak Discovery PLC, Cloudbreak Discovery (Canada) Ltd., Tarsis Resources US Inc., Alianza Minerals Ltd. and Volt dated February 9, 2022, and the option to acquire a 100% interest in the Silver King Property, pursuant to an option agreement among Goodsprings Exploration LLC, Robert Cole, Lori Cole and 1269280 BC Ltd. dated February 10, 2021.
The company acquired the option underlying the SK Agreement when it acquired BCCo on October 27, 2021, pursuant to a three-cornered amalgamation in accordance with Section 260 of the Business Corporations Act. Pursuant to the RTO Transaction, BCCo was amalgamated with 1303288 BC Ltd., which is a wholly-owned subsidiary of the company. The terms of the SK Agreement were disclosed in the company's filing statement dated October 18, 2021. In accordance with the SK Agreement, the company, through Volt SubCo, has given notice for the termination of the SK Agreement, which will be effective immediately.
According to Cameron Drummond of Stockhead, factories in China manufacturing electric vehicles (EVs) are raising demand for lithium and other battery metals.
According to a report by Benchmark Metals Intelligence (BMI), "In H222 and H123, the Asia region maintained its position as the regional leader in terms of EV battery plant investments, attracting 38 projects into either gigafactory or EV battery component plant investments."
A Life Altering Find
Michael Ballanger cited Volt Lithium as a "life-altering" find.
According to Ballanger, there is a market disconnect that "lies in the mistaken assumption that Volt's claim is either overstated or false" and that Volt benefits from "green company' benefits whereby Volt returns formerly toxic brines to the subsurface aquifer in pristine shape, free of all impurities, including oil, for which they are paid a royalty by Cabot Energy. This is a feature of immense benefit to politicians."
Ballanger predicts that Volt will receive approval for government grants.
Ownership and Share Structure
Streetwise Ownership Overview*
Management and insiders own 16.65% of the company. James Alexander Wylie owns 8.74% of the company with 11.38 million shares, Martin Scase owns 4.97% with 6.44 million shares, Warner Uhl owns 0.88% with 1.15 million shares, Morgan Tiernan owns 0.39% with 0.50 million shares, Maury Dumba owns 0.49% with 0.64 million shares, and Kyle Robert Hookey owns 1.180% with 1.54 million shares.
The company reports no strategic investors.
It has CA$7 million in the bank with a CA$100,000 monthly burn rate.
Middlefield and Backer Wealth represent strategic investors. There are 7.2 million warrants valued at CA$0.45 due in October 2023.
The company works with the Toronto-based IR firm Primoris but does not work with any influencers. Mike Ballanger provides news coverage and analysis of the company.
There are 103.22 million shares outstanding and 96.34 million free-float traded shares. The company has a market cap of CA$26.04 million. It trades in the 52-week period between CA$0.06 and CA$0.55.
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- Volt Lithium Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Volt Lithium Corp.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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