Canada Carbon Closes $540,000 Flow-Through Private Placement
May 27th, 2016, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V: CCB) announces it has closed a non-brokered private placement (the “Private Placement”) which raised gross proceeds of $540,000. Specifically, the Company issued 1,350,000 flow-through shares (“Shares”) at a price of $0.40 per share to two subscribers. No warrants were issued to the placees in conjunction with this private placement.
Finder’s fees of $32,400 were paid in connection with the Private Placement to Secutor Capital Management Corporation. 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 exploration of the Company’s 100% owned Miller hydrothermal lump/vein graphite property.
On Behalf of the Board of Directors
CANADA CARBON INC.
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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).