VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 13, 2017) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) announces it has arranged a non-brokered private placement (the "Private Placement") for the issuance of 1,650,000 flow-through shares at $0.30 per share and 3,630,000 non-flow through units at $0.23 per unit. Each unit consists of one common share and one warrant exercisable at $0.30 per share for three years.
The first tranche of the private placement, consisting of 1,650,000 flow-through shares and 2,500,000 non-flow-through units has closed for gross proceeds of $1,070,000. Finder's fees of 6% cash were paid to Secutor Capital Management Corporation in connection with the first tranche.
The second tranche consisting of 1,130,000 non-flow-through units is scheduled to close on or about April 26th, 2017 for gross proceeds of $259,900. Finder's fees of 6% are payable on the second tranche.
In accordance with applicable securities legislation, all securities issued in the Private Placement are subject to a statutory hold period of four months and one day.
The proceeds from the private placement will be used to advance the Company's 100% owned Miller hydrothermal lump/vein graphite property and for general corporate purposes.
CANADA CARBON INC.
"R. Bruce Duncan"
CEO and Director
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).