Volcanic Metals Corp (TSXV:VOL) announced a non-brokered private placement of 10,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 500,000 on January 8, 2014. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at an exercise price of CAD 0.05 per share for a period of three years. The closing of the transaction is subject to the approval of the TSX Venture Exchange.

On January 16, 2014, TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction will involve participation from 18 placees including the insiders of the company. Michael Iverson, Chief Executive Officer of the company, will subscribe to 1,000,000 shares in the transaction.