Canada Carbon Secures Equity Facility with Alumina Partners

MISSISSAUGA, Ontario, July 27, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (TSXV:CCB) (the “Company” or “Canada Carbon“) is pleased to announce that it has entered into a definitive agreement (the “Investment Agreement”) for a drawdown equity financing facility (the “Facility”) of up to CDN$5 million with Alumina Partners (Ontario) Ltd. (“Alumina”), an affiliate of New York-based private equity firm Alumina Partners, LLC.

The Company intends to use funds from Alumina to advance the Miller Project, including the completion of the feasibility study, and to determine the potential of the recently acquired graphite claims in and around the former Asbury graphite mine.

“We are excited that Alumina recognizes the potential of Canada Carbon and is prepared to provide capital to ensure that the management of the Company can deliver on that potential. This strong financial backing provides us with the flexibility and security we need to execute on our business plan,” said Olga Nikitovic, Interim CEO.

“We’re pleased to support Canada Carbon as they prepare to embark upon a new chapter of exploration in Quebec,” said Adi Nahmani, Alumina’s Managing Member. “As the range of applications for reference-grade graphite continues to expand, demand is expected to grow substantially. Electric vehicles and renewable energy solutions are both driving innovative new battery technologies, and graphite is critical to those applications. We are confident in management’s roadmap to progress Canada Carbon’s business plan, and look forward to seeing it realized.”

The Investment Agreement provides the Company with a financing facility over a period of 24 months during which time the Company can draw down, subject to certain conditions, through private placement tranches of up to $500,000. Each tranche shall be a private placement of units, to be comprised of one common share and one common share purchase warrant. The units will be issued at a discount of 15% to 25% from the closing market price at the time of each tranche, and the exercise price of the warrants will be at a 25% premium over the closing market price at the time of issuance. There are no finder’s fees or standby charges associated with these investments. Each tranche of units issued will be subject to the acceptance of the TSX Venture Exchange, and the securities issued will be subject to the customary 4-month and one day hold period.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.
[email protected] 

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
[email protected]
(819) 856-5678

“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.”

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions.  Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at

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