- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Canada Carbon Completes Purchase of Uragold Bay’s Asbury Graphite Mine
Canada Carbon Inc. (TSXV:CCB) announced that it has finalized an agreement to buy the Asbury mine, a past-producing graphite mine, from Uragold Bay Resources Inc. (TSXV:UBR). The company plans to reopen the mine within 12 to 14 months.
Canada Carbon Inc. (TSXV:CCB) announced that it has finalized an agreement to buy the Asbury mine, a past-producing graphite mine, from Uragold Bay Resources Inc. (TSXV:UBR). The company plans to reopen the mine within 12 to 14 months.
As quoted in the press release:
Pursuant to the terms of the mining claims purchase & transfer agreement (“Agreement”) dated August 29th, 2012 (as amended by amending agreement dated October 11, 2012), Canada Carbon made an initial contribution of $30,000 CDN to UBR and a second cash payment of $70,000 CDN. Upon closing of the transaction today, Canada Carbon has made a further payment of $200,000 CDN and will pay a yearly royalty of 0.75% on the net production cost for a period of 10 years after the start of graphite production. As further consideration for the transfer and sale of the Claims and related assets, Canada Carbon issued to Uragold 5,000,000 common shares (“Common Shares”), representing approximately 8.7% of Canada Carbon’s issued shares.
Click here to read the full Canada Carbon Inc. (TSXV:CCB) press release.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.