Canada Carbon announces $1.33M private placement

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By CPE News

Vancouver (pcJ News Briefs) – Canada Carbon Inc. (TSX-V: CCB) has arranged a non-brokered private placement 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 for gross proceeds of $1,329,000.

Each unit consists of one common share and one warrant exercisable at $0.30 per share for three years.

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.

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.

Proceeds will be used to advance Canada Carbon’s 100% owned Miller hydrothermal lump/vein graphite property and for general corporate purposes.

Canada Carbon Inc. holds a 100% interest in three strategic graphite properties located in Quebec, including 2 past producing graphite mines, the Miller and the Asbury.

photo credit: Canada Carbon