Canada Carbon Announces Engagement of Alternative Resource Capital
Rhea-AI Summary
Canada Carbon Inc. (TSX-V:CCB) has engaged Alternative Resource Capital, a trading name of Shard Capital Partners LLP, for corporate-finance advisory and equity research services. The agreement, dated August 15th, 2024, involves an annual fee of £50,000, with 50% paid in common shares and 50% in quarterly cash installments of £6,250. The company will also pay up to 5% commission on investments introduced by the consultant. This engagement aims to enhance Canada Carbon's financial advisory and research capabilities, potentially impacting its market position and investor relations. The agreement and share issuance are subject to TSX Venture Exchange approval, with issued shares having a four-month hold period.
Positive
- Engagement of financial advisory and equity research services, potentially improving market visibility
- 50% of annual fee paid in shares, preserving cash for operations
- Potential for new investment opportunities through consultant's network
Negative
- Annual expense of £50,000 for consulting services
- Potential dilution of shareholder value due to share issuance for fee payment
- Up to 5% commission on introduced investments, increasing capital raising costs
News Market Reaction
On the day this news was published, BRUZF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
The Company has also agreed to pay a cash commission of up to
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.
FAQ
What services has Canada Carbon (BRUZF) engaged Alternative Resource Capital for?
How much is Canada Carbon (BRUZF) paying for the consulting services?
How will Canada Carbon (BRUZF) pay for the consulting services?
What commission will Canada Carbon (BRUZF) pay for introduced investments?
