The pending claims are situated 80km west of Montreal near Grenville, Quebec.
Under the terms of the definitive agreement, Canada Carbon will issue to Nouveau-Monde Mining Enterprises., a Québec corporation, a total of 75,000 shares payable upon the approval of the transaction by the TSX Venture Exchange.
The deal also provides Nouveau-Monde with a 2% Net Smelter Return royalty that can be reduced at any time to 1% by paying $1,000,000 to Nouveau-Monde.
The Miller Graphite Mine is located in Grenville Township in Quebec, and is a past graphite and mica producer with unknown graphite reserves remaining.
Following the new land acquisition, the Miller Graphite property will now cover 15.3km² of prospective graphite potential.
