- Canada Carbon (CCB) has secured a C$5 million equity facility with Alumina Partners, a private equity firm based in New York
- The 24-month financing allows the company to draw funds through private placement tranches of up to $500,000
- The company intends to use the funds to advance the Miller Project and evaluate graphite claims in and around the former Asbury Graphite Mine
- Canada Carbon is a mineral exploration company focused on graphite projects in Canada
- Canada Carbon (CCB) is up by 8 per cent and is currently trading at $0.135 per share
Canada Carbon (CCB) has secured a C$5 million equity facility with Alumina Partners, a private equity firm based in New York.
The 24-month financing allows the company to draw funds through private placement tranches of up to $500,000.
Each private placement unit is comprised of one common share and one common share purchase warrant.
The units will be issued at a discount of 15 to 25 per cent from the closing market price at the time of each tranche.
The warrants’ exercise price will be at a 25 per cent premium over the closing market price at the time of issuance.
The company intends to use the funds to advance the Miller Project, including the completion of the feasibility study, and to evaluate recently acquired graphite claims in and around the former Asbury Graphite Mine.
Olga Nikitovic, Canada Carbon’s Interim CEO, commented,
“We are excited that Alumina recognizes the potential of Canada Carbon and is prepared to provide capital to ensure that the management of the company can deliver on that potential. This strong financial backing provides us with the flexibility and security we need to execute on our business plan.”
Adi Nahmani, Alumina’s Managing Member, added,
“We’re pleased to support Canada Carbon as they prepare to embark upon a new chapter of exploration in Quebec. As the range of applications for reference-grade graphite continues to expand, demand is expected to grow substantially. Electric vehicles and renewable energy solutions are both driving innovative new battery technologies, and graphite is critical to those applications. We are confident in management’s roadmap to progress Canada Carbon’s business plan and look forward to seeing it realized.”
Canada Carbon is a mineral exploration company focused on graphite projects in Canada.
Canada Carbon (CCB) is up by 8 per cent and is currently trading at $0.135 per share as of 12:57 pm ET.
