VOLT CARBON TECHNOLOGIES ANNOUNCES AGM RESULTS AND MANAGEMENT CHANGES, The Canadian Business Journal

CALGARY, Alberta, Canada, November 24, 2022 (GLOBE NEWSWIRE) — Volt Carbon Technologies Inc. (“Volt Carbon” or the “Company”) (TSX-V: VCT) (OTCQB: TORVF) has announced that its shareholders , elected six directors at the Annual and Special General Meetings of Shareholders held on November 21. , 2022 (“Conference”). Shareholders have also approved the Company’s amended Stock Option Plan.

After careful consideration of future succession plans, Dr. William Faffenberger will step down from the positions of CEO, President, Chairman of the Board and Director of Volt Carbon, which he has held for the past 15 years. The board has formally approved his resignation from the company effective November 25, 2022. I would also like to thank our Board of Directors and our shareholders for their unwavering support. We also thank Dr. Zhongwei Chen, who contributed to the development of Guelph’s battery division. We are proud of what we have achieved and look forward to seeing future results. ”

Dr. Pfaffenberger currently holds a $255,000 promissory note as a loan to the company. The company will pay off the loan and Dr. Pfaffenberger will exercise all his options in return. These options are:
280,000 will expire at $0.16 per share on August 11, 2026, 1,100,000 will expire at $0.15 per share on October 6, 2026, and 500,000 will expire at $0.115 per share on March 15, 2027. increase. Dr. Pfaffenberger currently holds 3,914,807 shares and the transaction will increase his holding to 5,794,807 shares.

The Board has appointed V-Bond Lee, P. Eng as CEO, President and Chairman of the Board to succeed Dr. Pfaffenberger. V-Bond Lee and Dr. Pfaffenberger have worked very closely together since 2020 to run the company. This appointment ensures that the company is managed by a proven, results-oriented leader. Dr. Faffenberger said: His extensive knowledge of his engineering and leadership background will ensure the future success of our mining and technology development. ”

V-Bond is a professional engineer with 30 years of leading-edge product development and management experience. During his career, he has successfully developed, patented and commercialized new innovations and technologies for various multinational OEM companies. V-Bond is the founder of Advanced Mobility Products Inc. The company is a highly successful engineering company providing niche engineering services in driveline and electrification development. V-Bond joined Volt Carbon in 2019 and has been Chief Technology Officer since September 2021.

V-Bond commented: My approach to taking this company to the next level of success is to continue the hard work our team has put into developing our mining and battery patented technology, and to continue our progressive innovation and teamwork. to continue. ”

about Volt Carbon Technologies

Volt Carbon is a publicly traded carbon science company with a particular interest in energy storage and green energy creation, with mining rights in Quebec and British Columbia, Canada. For the latest information on Volt Carbon features and news, please visit our website at http://www.volt carbontech.com/.

On behalf of the Board of Directors
Volt Carbon Technologies Ltd.
V-Bond Lee, CEO, President, Chairman of the Board, Director

Contact information :
Email: [email protected]
Phone: (647-546-7049)

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Future outlook: This press release contains forward-looking statements regarding Volt’s business and operations within the meaning of applicable securities laws. In some cases, we use words such as “plans,” “expects” or “does not expect,” “intends,” “budget,” “planned,” to identify forward-looking statements I can. ”, “estimate”, “predict”, “intend”, “predict”, or variations of such words or phrases, or that a particular action, event, or outcome To state “may”, “may”, ”would”, ”might” or ”will be take”, ”occur” or ”be occured”.

These forward-looking statements are based on current information expectations and Actual results may differ materially due to uncertainties and changes in circumstances. Although Volt believes the expectations expressed in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove correct. Such statements include statements regarding:: (Me) receipt of approval of shares for debt trading from TSX Venture Exchange;Forward-looking statements involve significant risks and uncertainties and are not guarantees of future performance or results and are not necessarily accurate indicators. whether You will get a result like this. Several A number of factors, including those described above, could cause actual results to differ materially from those described in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this warning statement.

all Forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release and Volt will not update or revise them to reflect new events or circumstances, except as required by applicable securities laws. assume no obligations.

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