CKR Carbon Corporation. (TSX-V: CKR) (FSE: CB81) an anode and value-added graphite development Company and operator of the Aukam vein-graphite project in Namibia is pleased to announce that it has closed its brokered financing announced on March 23, 2017 and raised $1,764,050 First Republic Capital Corporation acted as its exclusive lead agent in respect of the Private Placement.

The Company placed 15,045,000 units (“Units“) at a price of CAD$0.09 per Unit for proceeds of CAD$1,354,050 and 4,100,000 flow through shares at a price of CAD $0.10 for flow-through proceeds of CAD$410,000.

Each Unit is comprised of: (i) one common share of the Company and (ii) one common share purchase warrant of the Company, with each common share purchase warrant entitling the holder to purchase one additional common share of the Company at an exercise price of CAD$0.20 for a period of three (3) years from the date of issuance of the Units. In the event that the closing price of the Company’s common shares on the TSX Venture Exchange (or such other exchange on which the Company’s common shares may become traded) is CAD$0.30 or greater per common share during any 10 consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire, at the sole discretion of the Company, at 4:00 p.m. (Toronto time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants and First Republic.

The Company paid First Republic and other eligible finders cash compensation of $176,405 and issued 1,504,500 Broker Warrants in relation to the sale of Units and 410,000 Broker Options in relation to the sale of FT Shares.

All securities issued pursuant to the Offering are subject to a four month hold period expiring on July 30, 2017.

The net proceeds from the sale of the Units will be used for ongoing underground drilling and sampling at the Aukam Graphite Mine in Namibia, remaining studies required for a mining permit application, construction of a pilot plant and for working capital. The net proceeds from the sale of flow-through shares will be used for exploration of the Company’s graphite projects in Quebec.

The technical information in this news release was prepared by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.

About the Aukam Project

CKR has, through a binding Farm Out Agreement with Next Graphite Inc., an option to acquire 63% of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10% of Next’s remaining interest in the License subject to agreement by Next. CKR has acquired 52% of the project and expects to acquire the full 63% in the near future.

The Aukam Graphite Project is located on 34,082.15 hectares in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 composite samples taken from the lower three dumps were assayed and averaged 42% Cg. While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.

CKR recently completed a bulk sampling program at Aukam, and has a letter of intent to sell the graphitic material produced during the program. CKR is currently undertaking studies to support an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.

About CKR Carbon Corporation

CKR Carbon Corporation is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil, graphene and other value-added high growth technology applications. We only select projects requiring low capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 33.2 million shares outstanding.