Canada Carbon Inc of Vancouver, BC has entered into a definitive agreement for a drawdown equity financing facility of up to CDN$5 million with Alumina Partners (Ontario) Ltd.
The company intends to use funds from Alumina to advance its Miller Graphite Project, including the completion of the feasibility study, and to determine the potential of recently acquired graphite claims in and around the former Asbury graphite mine.
Olga Nikitovic, Canada Carbon’s interim CEO, said, “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.”
Volume 35, Issue 14