The Prospector News

Canada Carbon Closes Private Placement of Units

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Canada Carbon Closes Private Placement of Units

 

Canada Carbon Inc. (TSX-V: CCB) is pleased to announce the closing of the first tranche of a non-brokered private placement of 7,333,333 units at a price of $0.015 per Unit for aggregate gross proceeds of $110,000. Each Unit is comprised of one (1) common share in the capital of the Company and one (1) common share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at a price of $0.06 per share for a period of 60 months from the closing of the Offering.

All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds of the Offering will be used by the Company for general working capital purposes.

Ellerton Castor, Chief Executive Officer of the Company, purchased 666,666 Units pursuant to the Offering. The insider private placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company which will be issued to Mr. Castor does not exceed 25% of its market capitalization.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

CANADA CARBON INC.

Posted November 20, 2024

Share this news article

MORE or "UNCATEGORIZED"


White Gold Corp. Closes $5M First Tranche of Upsized Private Placement

White Gold Corp. (TSX-V: WGO) (OTCQX: WHGOF) (FRA: 29W) is please... READ MORE

December 23, 2024

Osisko Announces Acquisition of Additional Gibraltar Silver Stream Interest and Closing of the Dalgaranga Royalties Acquisition

Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) is pleased to announ... READ MORE

December 23, 2024

Canada Nickel Announces Initial Resource at Reid Nickel Sulphide Project

Highlights: Initial Reid Indicated Resource of 0.59 billion tonne... READ MORE

December 23, 2024

NMG Announces the Closing of Aggregate US$50 Million Private Placement by Canada Growth Fund and Investissement Quebec

Nouveau Monde Graphite Inc. (NYSE: NMG) (TSX-V: NOU) confirms it ... READ MORE

December 23, 2024

FALCO ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT

Falco Resources Ltd. (TSX-V: FPC) is pleased to announce the closing of ... READ MORE

December 20, 2024

Copyright 2024 The Prospector News