Canada Carbon Inc. announced a non-brokered private placement of up to 16,666,666 flow-through units at a price of CAD 0.03 per flow-through unit for aggregate gross proceeds of up to CAD 499,999.98 and up to 3,333,333 units at a price of CAD 0.03 per ordinary unit for aggregate gross proceeds of up to CAD 99,999.99; for total gross proceeds of CAD 599,999.97 on December 4, 2023. Each flow-through unit shall comprise one flow-through share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.05 per share for a period of 24 months from the date of issuance.

Each ordinary unit comprises one common share and one warrant. In connection with the offerings, the company may pay finder's fees to eligible arm's-length parties. The finder's fees may consist of a cash fee equal to 8% of the gross proceeds of the offerings and finder's warrants equal to 8% of the flow-through units and ordinary units issued pursuant to the offerings.

Each finder's warrant shall entitle the holder to acquire one common share at a price of CAD 0.05 per common share for a period of 24 months from the date of issuance. All securities issued pursuant to the offerings will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The closing of the offerings is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

The transaction is expected to close on or about December 8, 2023.