CANADA CARBON CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH UNITS AND ORDINARY UNITS

[PRESSWIRE] May 1, 2023, Toronto, ON, Canada– Canada Carbon Inc. (the “Company”) (TSX-V: CCB) is delighted to reveal the closing of a non-brokered personal positioning of 10,833,000 flow-through systems (each, a “Feet Unit”) at a cost of $0.06 per feet Unit for aggregate gross profits of $649,980 (the “FEET Offering”). Each feet Unit is consisted of one flow-through share (each, an “Feet Share”) in the capital of the Company and one typical share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to obtain one typical share in the capital of the Company (each, a “Common Share”) at a cost of $0.10 per Common Share for a duration of 60 months from the date of issuance. The feet Shares will certify as “flow-through shares” within the significance of the Income Tax Act (Canada). In addition to the feet Offering, the Company finished a non-brokered personal positioning of 1,300,000 systems (each, an “Ordinary Unit”) at a cost of $0.05 per Ordinary Unit for aggregate gross profits of $65,000 (the “Concurrent Offering” and together with the feet Offering, the “Offering”). Each Ordinary Unit is consisted of one Common Share and one Warrant. Each Warrant will entitle the holder thereof to get one Common Share at a rate of $0.10 per Common Share for a duration of 60 months from the date of issuance. All securities provided pursuant to the Offering undergo a hold duration of 4 months plus a day from the date of issuance and the resale guidelines of suitable securities legislation. The earnings of the feet Offering will be utilized by the Company for qualified flow-through expenses and the earnings of the Concurrent Offering will be utilized for basic business expenditures. In connection with the Offering, the Company paid finders’ charges to particular finders, including: (i) a money cost equivalent to $45,398; and (ii) 769,647 warrants (each, a “Finder’s Warrant”). Each Finder’s Warrant will entitle the holder to get one Common Share at a rate of $0.10 per Common Share for a duration of 60 months from the date of issuance. This press release does not make up a deal to offer or a solicitation of a deal to offer any of the securities in the United States. The securities have actually not been and will not be signed up under the United States Securities Act of 1933, as changed (the “U.S. Securities Act”) or any state securities laws and might not be used or offered within the United States or to U.S. Persons unless signed up under the U.S. Securities Act and appropriate state securities laws or an exemption from such registration is readily available. CANADA CARBON INC. “Ellerton Castor” Chief Executive Officer and Director Contact Information E-mail inquirie
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