CANADA CARBON CLOSES PRIVATE PLACEMENT OF UNITS
10 Abril 2024 - 7:37PM
Canada Carbon Inc. (the "
Company")
(TSX-V:
CCB) is pleased to announce the closing of a non-brokered
private placement of 2,466,818 units (each, a
“
Unit”) at a price of $0.055 per Unit for
aggregate gross proceeds of $135,675 (the
“
Offering”). Each Unit is comprised of one (1)
common share (each, a
“Share”) in the capital of
the Company and one (1) common share purchase warrant (each, a
“
Warrant”). Each Warrant shall entitle the holder
thereof to acquire one common share in the capital of the Company
at a price of $0.12 per share for a period of 60 months from the
date of issuance.
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 corporate expenditures. In connection with the
Offering, the Company paid a cash fee of $4,400 to AlphaNorth Asset
Management.
Ellerton Castor, Chief Executive Officer of the
Company, subscribed for 181,818 Units under 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
(“MI 61-101“) 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 were 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 (the “U.S. Securities Act”) 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.“Ellerton Castor”
Chief Executive Officer and DirectorContact
InformationE-mail inquiries: info@canadacarbon.comP: (905)
407-1212
FORWARD LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking information” (“forward-looking
information”) within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking information and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that discusses predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
“expects”, or “does not expect”, “is expected”, “anticipates” or
“does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words
and phrases or stating that certain actions, events or results
“may” or “could”, “would”, “might” or “will” be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information. Forward-looking statements in this
news release include statements regarding the Offering and use of
proceeds from the Offering. In disclosing the forward-looking
information contained in this press release, the Company has made
certain assumptions. Although the Company believes that the
expectations reflected in such forward-looking information are
reasonable, it can give no assurance that the expectations of any
forward-looking information will prove to be correct. Known and
unknown risks, uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking information. Such
factors include, but are not limited to: compliance with extensive
government regulations; domestic and foreign laws and regulations
adversely affecting the Company’s business and results of
operations; the impact of COVID-19; and general business, economic,
competitive, political and social uncertainties. Accordingly,
readers should not place undue reliance on the forward-looking
information contained in this press release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking information to reflect
actual results, whether as a result of new information, future
events, changes in assumptions, changes in factors affecting such
forward-looking information or otherwise.
Neither the 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.
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