March 6, 2013 (Source: Marketwire) Oakville, ON — Canada Carbon Inc. (the “Company”) (TSX VENTURE:CCB), (FRANKFURT:U7N1) announces that it has closed a non-brokered private placement (the “Private Placement“) which raised gross proceeds of $500,000. Specifically, the Company issued 3,750,000 units (“Units“) and 1,250,000 flow-through units (“Flow-Through Units“). Each Unit consists of one common share in the capital of the Company (“Common Share“) and one Common Share purchase warrant (“Warrant“). Each Flow-Through Unit consists of one flow-through Common Share in the capital of the Company and one (non flow-through) Warrant. Each Warrant is exercisable for the purchase of an additional Common Share for a period of two years from closing at $0.20 per Common Share.
12,000 finder’s warrants (“Finder Warrants“) were issued and $1,200 in finder’s fees were paid in connection with the Private Placement. The Finder Warrants are exercisable at $0.10 for 2 years from Closing. In accordance with applicable securities legislation, the securities issued in the Private Placement are subject to a statutory hold period expiring on July 2, 2013.
The proceeds from the Private Placement will be used for property exploration and general corporate purposes.