Canada Carbon Issues Equity to Alternative Resource Capital

Rhea-AI Summary

Canada Carbon Inc. (TSX-V:CCB) (FF:U7N1) has announced the issuance of 2,237,750 common shares to Alternative Resource Capital, a trading name of Shard Capital Partners LLP. This equity issuance is part of the payment for corporate-finance advisory services provided by the consultant, as per an engagement letter dated August 22, 2024.

The shares were issued at a deemed price of $0.02 per share and will be subject to a four-month hold period from the date of issuance, in compliance with TSXV policies and Canadian securities laws. This move represents a portion of the annual fee owed to the consultant for their services.

Positive

• Secures corporate-finance advisory services through equity issuance, potentially conserving cash
• Aligns consultant interests with company performance through share-based compensation

Negative

• Dilution of existing shareholders' ownership due to new share issuance
• Low share price of $0.02 indicates potential financial challenges or market undervaluation

Toronto, Ontario, Canada , Oct. 10, 2024 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the "Company" or "Canada Carbon") (TSX-V:CCB) (FF:U7N1) is pleased to announce that, pursuant to its engagement letter dated August 22, 2024, with Alternative Resource Capital, a trading name of Shard Capital Partners LLP , an arm’s length consultant (the “Consultant”), the Company has issued the Consultant an aggregate of 2,237,750 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.02 per share. The Common Shares were issued in satisfaction of a portion of the annual fee owed to the Consultant as consideration for the provision of corporate-finance advisory services.

All Common Shares issued will be subject to a hold period of four months and a day from the date of issuance in accordance with applicable TSXV policies and Canadian securities laws.

CANADA CARBON INC. 
“Ellerton Castor”
Chief Executive Officer and Director 
Contact Information 
E-mail inquiries: info@canadacarbon.com 
P: (905) 407-1212

FORWARD LOOKING INFORMATION

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 press 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 information in this press release includes statements regarding the issuance of Common Shares and other matters related thereto. 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; financial abilities; the ability to develop the Miller deposit; 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.

Neither 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.

FAQ

How many shares did Canada Carbon (BRUZF) issue to Alternative Resource Capital?

Canada Carbon issued 2,237,750 common shares to Alternative Resource Capital.

What was the purpose of Canada Carbon's (BRUZF) share issuance on October 10, 2024?

The share issuance was to satisfy a portion of the annual fee owed to Alternative Resource Capital for corporate-finance advisory services.

At what price were the shares issued by Canada Carbon (BRUZF) to the consultant?

The shares were issued at a deemed price of $0.02 per share.

What is the hold period for the shares issued by Canada Carbon (BRUZF) on October 10, 2024?

The issued shares are subject to a hold period of four months and a day from the date of issuance.