/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/08/16 -- CKR Carbon Corporation ("CKR" or the "Company") (TSX VENTURE: CKR)(FRANKFURT: CB8)(OTCBB: CBULF) is pleased to announce that it has retained First Republic Capital Corporation ("First Republic") to act as its exclusive lead agent in respect of a brokered private placement to raise up to CAD$500,000 (the "Private Placement").

Under the Private Placement, First Republic will act as agent on a commercially reasonable efforts basis to sell up to 7,142,857 units ("Units") of the Company at a price of CAD$0.07 per Unit to raise aggregate proceeds of up to CAD$500,000. Each Unit is comprised of: (i) one common share of the Company (a "Share"); and (ii) one-half of one common share purchase warrant of the Company, with each whole common share purchase warrant (a "Warrant") entitling the holder to purchase one additional common share of the Company at an exercise price of CAD$0.13 for a period of 12 months from the date of issuance of the Units (the "Warrant Expiry Date"). In the event that the closing price of the Company's common shares on the TSX Venture Exchange (or such other exchange on which the Company's common shares may become traded) is CAD$0.20 or greater per common share during any 20 consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire, at the sole discretion of the Company, at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants.

The Company has agreed to pay First Republic cash compensation of: (i) a corporate finance fee equal to 2% of the gross proceeds of the Private Placement, and (ii) a sales commission up to 8% of the gross proceeds of the Private Placement, and to issue Units to First Republic ("Broker Units") in the following amounts: (i) corporate finance Broker Units equal to 2% of the aggregate number of Units sold in the Private Placement, and (ii) selling compensation Broker Units up to 8% of the aggregate number of Units sold in the Private Placement.

All securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of closing of the Private Placement. The Private Placement is subject to the approval of the TSX Venture Exchange.

The net proceeds from the sale of the Units will be used for exploration and bulk sampling program at the Company's Aukam Graphite Project in Namibia and for working capital.

About the Aukam Project

CKR has an option to acquire an initial 63% in the Aukam graphite project from Next Graphite. The project is located on 96,000 acres in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 84 composite samples each weighing 50kg assayed 42% Cg. The samples were taken from 200 tonnes of screened graphitic material resulting from a 500 tonne bulk sample of the dumps.

About CKR Carbon Corporation

CKR Carbon Corporation is focused on high quality natural graphite suitable for use in lithium-ion batteries and graphite foil. We only select projects requiring small capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 24,055,894 shares outstanding.

The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.

"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."

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

Contacts:
CKR Carbon Corporation
Roger Moss
CEO
(416) 704-8291
info@ckrcarbon.com

For graphite product enquiries:
Arno Brand
Boswell Projects
(416) 561-4095
abrand@boswellprojects.com

First Republic Capital Corporation
Anthony Durkacz
(416) 720-4360

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