Canada Carbon Provides Update on Share Capitalization
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 7, 2014) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) provides an update on the Company's share capitalization. Since August 1st, 2014, the Company has received gross proceeds of $1,530,000 from the exercise of 7,650,000 warrants and $40,000 from the exercise of 200,000 options. In addition, 4,000,000 warrants exercisable at $0.30 expired on October 6th, 2014.
| Share Capital Structure as at October 7th, 2014 | |||
| Exercise Price | Expiry Dates | ||
| Shares issued and outstanding | 84,213,794 | ||
| Warrants outstanding | 14,983,280 | $0.10-$0.40 | Oct 28, 2014 - Jan 6, 2017 |
| Options outstanding | 4,935,000 | $0.10-$0.50 | Apr 1, 2015 - Jul 15, 2019 |
| Fully Diluted as of October 7, 2014 | 104,132,074 | ||
Executive Chairman and CEO Mr. R. Bruce Duncan stated, "We are pleased that we have been able to significantly increase our working capital as we continue to explore our 100% owned Miller hydrothermal lump/vein graphite project." Mr. Duncan further stated, "It is gratifying to have the continued support of long term shareholders such as AlphaNorth Asset Management which exercised 5,000,000 warrants at $0.20 for gross proceeds of $1,000,000 to advance our Miller project."
On Behalf of the Board of Directors
CANADA CARBON INC.
R. Bruce Duncan, CEO and Director
"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 www.sedar.com).