|By Marketwired .||
|December 27, 2013 04:01 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/27/13 -- Canada Carbon Inc. (the "Company") (TSX VENTURE: CCB) announces that it has closed a non-brokered private placement (the "Private Placement") which raised gross proceeds of $178,560. Specifically, the Company issued 1,116,000 flow-through units ("Units") to one placee at a price of $0.16 per Unit. Each Unit is comprised of one common share in the capital stock of the Company, to be issued as a "flow-through share", and one-half of one non-flow through common share purchase warrant ("Warrant"), with each whole Warrant being exercisable for the purchase of an additional non-flow-through common share, at a price of $0.25 per share, for an eighteen month period.
89,280 compensation warrants ("Compensation Warrants") were issued and $10,713.60 in finder's fees were paid in connection with the Private Placement. The Compensation Warrants are exercisable at a price of $0.16 into one non-flow-through common share for an eighteen month period. 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 key 100% owned Miller hydrothermal lump/vein graphite property.
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).