Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) told investors it has closed the first tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $647,515 through the issuance of 7,617,823 units at $0.085 each.
Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to buy one additional share for $0.15 for thirty-six months following the date of issuance.
The aggregate proceeds of the first tranche are targeted at advancing the company's flagship Newton Project, and general working capital.