Toronto, ON, Canada , 03 oct. 2024 (GLOBE NEWSWIRE) — Canada Carbon Inc. (la « Company ») (TSX-V: CCB) is pleased to announce a non-brokered private placement of a total of 7,500,000 units (each, a “ unit ) at a price of $0.02 per unit for gross proceeds of up to $150,000 (the “ placement »”). Each unit will consist of one (1) common share in the capital of the Company and one (1) common share subscription warrant (each, a “ subscription order “). Each whole warrant entitles its holder to acquire one (1) common share at a price of $0.06 per share for a period of 60 months from the date of issue.
All securities issued in connection with the offering will be subject to a hold period of four months plus one day from the date of issue and the resale rules of applicable securities laws. The proceeds of the Offering will be used by the Company for corporate and general working capital purposes. Closing of the Offering is subject to certain conditions, including, but not limited to, obtaining all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.
Insiders of the Company can subscribe up to 25% of the Offering. Insider private placements are exempt from the valuation and minority shareholder approval requirements of National Instrument 61-101 protection of minority holders during specific transactions (« Regulation 61-101 “) under the exemptions provided for in sections 5.5(a) and 5.7(1)(a) of Regulation 61-101 in that the fair market value of the consideration for the securities of the Company which will be issued to insiders does not exceed 25% of its market capitalization.
This press release does not constitute an offer to sell or the 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 “ United States Securities Act “) or any state securities laws and may not be offered or sold in the United States or to United States persons unless registered under state securities laws applicable United States and state securities laws or an exemption from such registration.
CANADA CARBON INC.
« Ellerton Castor »
CEO and Director
Contact information
Email inquiries: [email protected]
P : (905) 407-1212
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using expressions such as “s ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘forecast’, ‘forecast’, ‘estimates’ , “believes” or “intends” or variations of these words and expressions or indicating that certain actions, events or results “may” or “could”, “would”, “could” or “will” be considered to be produce or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements contained in this press release include statements regarding the offering and the 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 with respect to any forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors that could cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: compliance with numerous government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; 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.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept no responsibility for the adequacy or accuracy of this release.
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