Toronto, Ontario, Canada, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the "Company" or "Canada Carbon") (TSX-V:CCB),(FF:U7N1) is pleased to announce that is has engaged Alternative Resource Capital, a trading name of Shard Capital Partners LLP, an arm’s length consultant (the “Consultant”) to corporate-finance advisory and equity research services (the “Services”) to the Company, pursuant to an engagement letter dated August 15th, 2024 (the “Agreement”).
In consideration for the Services to be provided by the Consultant, the Company will pay an annual fee of £50,000 (the “Annual Fee”). It is agreed that each year during the term of the Agreement, 50% of the Annual Fee will be paid in common shares in the capital of the Company (“Common Shares”) at a price per Common Share equal to the Market Price (as such term is defined in the policies of the TSX Venture Exchange (“TSXV”)). The remaining 50% of the Annual Fee to be paid in quarterly cash instalments of £6,250, in advance of each fiscal quarter.
The Company has also agreed to pay a cash commission of up to 5% on any investment received from investors that are introduced to the Company by the Consultant.
The Agreement and the issuance of Common Shares in satisfaction of the Annual Fee are subject to the approval of the TSXV. All Common Shares issued in satisfaction of the Annual Fee will be subject to a hold period of four months and a day from the date of issuance in accordance with applicable TSXV policies and Canadian securities laws.
CANADA CARBON INC.
“Ellerton Castor”
Chief Executive Officer and Director
Contact Information
E-mail inquiries: info@canadacarbon.com
P: (905) 407-1212
FORWARD LOOKING INFORMATION
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this press release includes statements regarding the Agreement and the Services and other matters related thereto. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; financial abilities; the ability to develop the Miller deposit; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
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.
