|By Marketwired .||
|September 20, 2013 12:29 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/20/13 -- Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) is pleased to announce that it has arranged a non-brokered private placement consisting of 650,000 units ("Units") at $0.32 for gross proceeds of $208,000 with Stone & Co. Limited. The units consist of one flow-through common share in the capital of the Company ("Common Share") and one half non-flow-through Common Share purchase warrant ("Warrant"), with each whole Warrant being exercisable for the purchase of an additional Common Share for a period of two years from closing at $0.40 per Common Share. There are no finder's fees payable on the transaction.
The Private Placement is subject to certain customary conditions, including, but not limited to, the execution of a definitive subscription agreement, and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Private Placement is anticipated to close on or about September 25, 2013. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus one day from the date of completion of the Private Placement, in accordance with applicable securities legislation.
The net proceeds from the Private Placement will be used to advance the Company's work programs on its 100% owned hydrothermal lump-vein graphite project.
Established in 1995, Stone & Co. Limited ("SCL") is an independent, 100% Canadian-owned fund company. Based in Toronto, SCL offers the Canadian investor, through financial advisors in all provinces and territories of Canada, eight mutual funds, 16 flow-through limited partnerships since 2003 and one TSX-listed investment fund.
On Behalf of the Board of Directors
CANADA CARBON INC.
R. Bruce Duncan, CEO and Director
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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).