TransactionsCassels Brock Acts for Volta Resources Inc. as It Closes Private Placement of Special Warrants and Obtains Receipt for Qualification ProspectusPublished: 08/25/2011 By Mark T. Bennett, Angela Chu, Andrea FitzGerald, Adria W. Leung, Andrew M. Reback On August 4, 2011, Volta Resources Inc. ("Volta" or the "Company") announced that it closed its previously announced private placement of special warrants with a syndicate of underwriters led by Cormark Securities Inc. and including Scotia Capital Inc., National Bank Financial Inc., Jennings Capital Inc. and M Partners Inc. The underwriters purchased 21,053,000 special warrants, on an underwritten bought deal private placement basis, at a price of $1.90 per special warrant for aggregate gross proceeds to the Company of $40,000,700. On August 22, 2011, Volta filed and obtained a receipt for its final short form prospectus qualifying for distribution in Ontario, Alberta, British Columbia and Manitoba 21,053,000 common shares of the Company issuable upon the exercise or deemed exercise of 21,053,000 special warrants, which were issued on August 4, 2011. Each special warrant entitled the holder thereof to receive one common share of the Company for no additional consideration. All unexercised special warrants were deemed to be exercised on August 25, 2011, being the third business day after the receipt was issued for the final short form prospectus, resulting in the issue of 21,053,000 common shares of the Company to the holders of the special warrants. Cassels Brock acted for Volta with a team that included Mark Bennett (Securities & Mining), Andrea FitzGerald (Securities & Mining), Angela Chu (Securities & Mining), Adria Leung (Securities) and Andrew Reback (Corporate Tax). |