Volcanic Metals Corp (TSXV:VOL) announced a non brokered private placement of 50,000,000 units at a price of CAD 0.01 per unit for gross proceeds of CAD 500,000 on December 12, 2012. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase an additional share at a price of CAD 0.05 per share in the first year and at CAD 0.10 per share at CAD 0.10 per share for the second year.

On January 23, 2013, the TSX Venture Exchange accepted for filing documents with respect to 13,400,000 units to be issued to 18 placees. Michael Iverson, Lagourgue Holdings Ltd., Redfern Consulting Ltd., and Larry Yopyk will participate for 1,850,000 units, 510,000 units, 260,000 units, and 510,000 units respectively.

On January 24, 2013, Volcanic Metals Corp closed the transaction. The company issued 13,400,000 units for gross proceeds of CAD 134,000. The securities issued will be subject to a hold period expiring on May 25, 2013. Pursuant to the transaction, Michael Iverson, Chief Executive Officer of the company, acquired 1,850,000 units and now holds 9.2% stake in the company on non-diluted basis.