TORONTO, Oct. 9, 2012 /CNW/ - AlphaNorth Asset Management ("AlphaNorth") announces it has acquired 5,000,000 units of Canada Carbon Inc. ("Canada Carbon"), formerly Bolero Resources Corp. at a price of $0.10 per unit through a private placement. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share for a period of 24 months from the closing date at an exercise price of $0.20 per warrant share. Immediately after the acquisition, AlphaNorth beneficially owns or controls 8,950,000 common shares and 7,600,000 warrants of Canada Carbon, collectively representing 21.7% of the issued and outstanding shares of Canada Carbon, assuming the exercise of all warrants held by AlphaNorth. AlphaNorth relied on the "accredited investor" exemption from the prospectus requirement in connection with the acquisition, contained in section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions.
The common shares of Canada Carbon are listed on the TSX Venture Exchange and trades under the trading symbol "CCB". AlphaNorth acquired the securities for investment purposes. Depending on market conditions, AlphaNorth may in the future increase or decrease its investment in Canada Carbon.
An Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under Canada Carbon's profile and can be viewed at www.sedar.com.
ALPHANORTH ASSET MANAGEMENT
| Steven Palmer
Neither the 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 news release.
SOURCE: AlphaNorth Asset Management
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AlphaNorth Asset Management