Volt Resources Appoints New York Based EAS Advisors LLC
Melbourne, May 19, 2016 AEST (ABN Newswire) - Volt Resources Ltd (
ASX:VRC) ("Volt" or the "Company") is pleased to announce that it has appointed EAS Advisors LLC ("EAS") as its North American corporate advisor. Located in New York, EAS is a boutique global advisory firm that was founded by Edward Sugar in 2008.
HIGHLIGHTS:
- Volt Resources (VRC) appoints EAS Advisors LLC ("EAS") as North American Corporate Advisor
- EAS and its founder, Mr Edward Sugar, have a successful history of backing selected ASX listed companies and assisting those companies with financial requirements to meet growth
- Volt Resources management will be working closely with EAS Advisors to promote the Company in the North American financial markets
- Volt Resources is looking to fast track the growth of the Company to early production following encouraging project results to date, in the natural graphite space
The foundation of EAS's business is built on an outstanding reputation of picking early stage mining and industrial groups, providing introductions to US based financial markets and access to institutional capital. Having participated in over US$3.5 billion of transactions to date, EAS has an excellent track record in assisting ASX listed companies and providing financial support to these companies at key stages. EAS have been instrumental in a number of highly successful financing arrangements and have built an exceptional record for backing early finance deals for a number of ASX listed companies.
Commenting on their appointment, Mr Edward Sugar said:
"EAS is very excited to be working with Volt Resources as interest in the graphite space is continuing to build. We believe that Volt's Namangale project will be of strong interest to the US Investment community, particularly given the strong, local investor participation in Tanzania, the well-understood shallow ore body and the location of the resource in relation to required infrastructure. Volt is at an interesting stage having achieved a great deal to date with regard to the discovery and development of its large resource. We now look forward to working with Volt with its ongoing development and lifting their profile in North America".
Commenting on EAS's appointment, Executive Chairman Stephen Hunt said:
"The Board of Volt Resources is delighted to be working closely with EAS, their track record of success in backing selected ASX listed mining companies is outstanding. The appointment of EAS could not come at better time as the company moves from exploration, through feasibility with the aim of acheiving production."
Under the agreement with Volt, as part of its remuneration, EAS will be paid mainly in performance-based options and is strongly incentivised to assist in the growth of the Company. The Company has agreed to pay EAS performance based options which will be awarded as per below:
- The exercise price of 4,200,000 shall be A$0.06 per fully paid ordinary share.
- The exercise price of 4,200,000 options shall be A$0.08 per fully paid ordinary share.
- The exercise price of 4,200,000 options shall be A$0.10 per fully paid ordinary share.
- The exercise price of 4,200,000 options shall be A$0.12 per fully paid ordinary share
The options shall be exercisable at any time until 30 April 2019.
About EAS
EAS Advisors, LLC is a private, New York-based boutique investment advisory firm providing a unique service to small and mid-cap companies operating in selected industry sectors. The foundation of EAS's business is built on industry knowledge, capital markets insights and access to a deep pool of traditional and alternative sources of capital. In addition to exposure to US investors, EAS provides ASX listed companies with access to local industry contacts to enhance their growth and expansion.
About Volt Resources Ltd
Volt Resources Ltd (ASX:VRC) (FRA:RBL) (OTCMKTS:VLTRF) is critical minerals and battery material company listed on the Australian Stock Exchange. We are a graphite producer and an emerging natural graphite anode producer. Volt has a 70% interest in the Zavalievsky Graphite business in Ukraine. The ZG mine and processing facilities have been in operation since 1934 and are near key markets with significant developments in lithium-ion battery production. ZG benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river, and sea freight combined with reliable grid power, ample potable ground water supply and good communications.
Volt acquired three licence applications that are prospective for lithium-borate mineralisation. The licence applications are in respect to a total area of 291km2, located in Serbia and are west and south-west of the Serbian capital, Belgrade.
Volt is progressing the development of its large wholly owned Bunyu Graphite Project in Tanzania. The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
| ||
|
