The company has entered into an agreement with seller Nouveau-Monde Mining Enterprises, under which Canada carbon will issue a total of 75,000 shares payable upon the approval of the transaction.
Also, the company has granted a 2% net smelter return royalty to Nouveau-Monde. However, Canada carbon has an option of reducing it to 1% by paying $1m to Nouveau-Monde.
Meanwhile, the company has offloaded its stake in Walker property to focus on graphite properties, providing its shareholders greater returns.
Also, it has terminated ten-year distribution agreement with a German specialty graphite engineered products company CGT Carbon GmbH.
