- Canada Carbon (CCB) has closed the first tranche of a non-brokered private placement for gross proceeds of $872,900
- The company issued 11,640,000 units at a price of $0.075 per unit
- The proceeds will be used for corporate and general working capital purposes
- Canada Carbon Inc is a mineral exploration company
- Canada Carbon Inc. (CCB) opened trading at C$0.06 per share
Canada Carbon (CCB) has closed the first tranche of a non-brokered private placement for gross proceeds of $872,900.
The company issued 11,640,000 units at a price of $0.075 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of $0.09375 for a period of 60 months.
Canada Carbon has been granted a 30-day extension to close a subsequent tranche of the offering.
All securities issued will be subject to a four-month hold period.
The proceeds will be used for corporate and general working capital purposes.
Ellerton Castor, CEO of Canada Carbon commented on the capital raise.
“Completion of this offering is a significant milestone for the company. We are appreciative of the support and confidence shown by current and new shareholders alike, as Canada Carbon embarks on an effort to expand the number of applications for which its graphite is qualified. The proceeds from this offering will allow the company to advance its strategic repositioning through the completion of a product qualification and metallurgical testing program. Canada Carbon is poised to deliver exceptional value to shareholders as we demonstrate the full potential of the company’s efforts to bring the Miller and Asbury graphite deposits into production.”
Canada Carbon Inc is a mineral exploration company engaged in the acquisition, exploration and evaluation of mineral properties in Canada.
Canada Carbon Inc. (CCB) opened trading at C$0.06 per share.
