CKR Carbon announces $1.43M private placement

CPE News

Toronto (pcJ News Briefs) – CKR Carbon Corporation (TSX-V: CKR; FSE: CB81; OTCPK: CBULF) has engaged First Republic Capital Corporation as its exclusive lead agent in respect of a brokered private placement of up to 13,333,334 units at CDN $0.09 per unit for proceeds of up to CDN $1,200,000 and up to 2,250,000 flow through (FT) shares at CDN $0.10 per FT share for gross proceeds of CDN $225,000.

Each unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at an exercise price of CDN $0.20 for a period of three years from the date of issuance of the units, subject to accelerated expiry.

Net proceeds will be used for ongoing underground drilling and sampling at the Aukam Graphite Mine in Namibia, remaining studies required for a mining permit application, construction of a pilot plant and for working capital. The net proceeds from the sale of flow-through shares will be used for exploration of its graphite projects in Quebec.

CKR Carbon Corporation is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil, graphene, and other value-added high growth technology applications.

photo credit: CKR Carbon