Toronto, Ontario–(Newsfile Corp. – March 17, 2017) – CKR Carbon Corporation. (TSXV: CKR) (FSE: CB81) (“CKR” or the “Company”) 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 retained First Republic Capital Corporation (“First Republic“) to act as its exclusive lead agent in respect of a brokered private placement to raise up to CAD$750,000.
First Republic will act as agent on a commercially reasonable efforts basis to sell up to 8,333,334 units (“Units“) of the Company at a price of CAD$0.09 per Unit to raise proceeds of up to CAD$750,000. The Company has granted First Republic the option to sell a further 5,000,000 Units to raise a further CAD$450,000 for aggregate proceeds of up to CAD$1,200,000 (collectively, the “Private Placement“).
Each Unit is comprised of: (i) one common share of the Company (a “Share“); and (ii) one common share purchase warrant of the Company, with each common share purchase warrant (a “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 (the “Warrant Expiry Date“). 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.
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