CKR Carbon Corp.: Appoints Sheldon Inwentash Executive Chairman and Grants Options
Toronto, April 4, 2017 - CKR Carbon Corporation (TSXV: CKR) (FSE: CB8) ("CKR" or the "Company"), a graphite development Company, and operator of the Aukam Vein graphite project in Namibia, is pleased to announce that Mr. Sheldon Inwentash will be joining the Board of Directors as Executive Chairman effective immediately. Mr. Inwentash, a serial entrepreneur in the resource sector, is Chairman and CEO, of ThreeD Capital Inc., a Toronto based venture capital firm specializing in investments in junior resources, technology, and biotechnology markets. Mr. Inwentash brings more than 30 years of experience in the investment side of the resource industry to the Company. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550 million), Aurelian Resources (acquired by Kinross for $1.2 billion), and Gold Eagle Mines (acquired by Goldcorp for $1.5 billion) to name a few. In 2007, he was an Ontario finalist for the Ernst & Young Entrepreneur Of The Year Award. In 2012, Mr. Inwentash received an honorary degree, doctor of laws (LLD) from the University of Toronto for his valuable leadership as an entrepreneur, philanthropist and inspirational commitment to making a difference in the lives of children, youth and their families.
"We are very excited to have Sheldon join the CKR team. His vision and experience will be invaluable to the Company as we continue to advance the Aukam Graphite project. I look forward to working with Sheldon and welcome him to our Board" said Roger Moss, Chief Executive Officer.
The company has granted 4,650,000 options to directors (as to 3,400,000), officers (as to 750,000) and consultants (as to 500,000). The options are priced at $0.17 and have a 5 year term to April 4, 2022.
The appointment of Mr. Inwentash as a director is subject to TSX Venture Exchange approval.
About the Aukam Project
CKR has, through a binding Farm Out Agreement with Next Graphite Inc., an option to acquire 63% of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10% of Next's remaining interest in the License subject to agreement by Next. CKR has acquired 52% of the project and expects to acquire the full 63% in the near future.
The Aukam Graphite Project is located on 34,082 hectares 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 73 composite samples taken from the lower three dumps were assayed and averaged 42% Carbon as graphite (Cg). While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.
CKR recently completed a bulk sampling program at Aukam, and has a letter of intent to sell a portion of the graphitic material produced during the program. CKR is currently undertaking technical studies to support an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
About CKR Carbon Corporation
CKR Carbon Corp. is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil and other value-added high growth technology applications. We only select projects requiring low capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 69.7 million shares outstanding.
For more information:
Visit the website at www.ckr-carbon.com
or contact: Roger Moss, CEO, +1 416-704-8291, rmoss@ckr-carbon.com
For graphite product enquiries:
Arno Brand, Boswell Projects, +1 416-561-4095, abrand@boswellprojects.com
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).