Carat Exploration Inc
			Symbol			CRZ
			Shares Issued			37,263,404
			Close 2008-08-20			C$ 0.35
			Recent Sedar Documents

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Carat Exploration closes $245,000 first tranche

2008-08-22 13:48 ET - News Release

Mr. Yannis Tsitos reports

CARAT HAS CLOSED THE FIRST TRANCHE OF A PRIVATE PLACEMENT

Carat Exploration Inc. has closed the first tranche of the previously announced (July 16, 2008, in Stockwatch news) non-brokered private placement of 612,500 units at a price of 40 cents per unit on Aug. 19, 2008.

Each unit consists of one common share and one-half share purchase warrant. Each warrant is exercisable to purchase shares at a price of 65 cents per share for a period of 12 months from closing. The warrants have an accelerated feature so that, if the shares of the company trade at a price of 90 cents per share or higher for a period of 10 consecutive trading days, and upon notice, the placee will have a further 15 trading days to exercise its warrants. If warrants are not exercised in that period, they shall be cancelled.

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