Canada Carbon Inc. announced a non-brokered private placement of 10,833,000 units at a price of CAD 0.06 per unit for aggregate gross proceeds of approximately CAD 649,980 and 1,300,000 units at a price of CAD 0.05 per ordinary unit for aggregate gross proceeds of CAD 65,000 on May 1, 2023. Each flow-through unit is comprised of one flow-through share in the capital of the company and one-half of one common share purchase warrant. Each ordinary unit is comprised of one common share and one warrant and each warrant shall entitle the holder thereof to acquire one common share in the capital of the company at a price of CAD 0.10 per common share for a period of 60 months from the date of issuance. All securities issued pursuant to the transaction are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. In connection with the transaction, the company paid a finder?s fee a cash fee equal to CAD 45,398, representing 6% of the gross proceeds raised under the transaction and 769,647 warrants representing 6% of the units sold under the transaction. Each finder?s warrant shall entitle the holder to acquire one common share at a price of CAD 0.10 per common share for a period of 24 months from the date of issuance. The closing of the transaction is subject to final approval of the TSX Venture Exchange.

On May 30, 2023, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement. The transaction included participation from four placees and finder fee of CAD 45,398 and 769,647 warrants.