CKR Carbon Corporation announced the signing of a binding Farm Out agreement with Next Graphite Inc. for the Aukam graphite project in Namibia. Under the terms of the Agreement CKR will earn a direct 63% interest in the License and the Project upon completion of investing USD 1.1 million in cash or the completion of the plant and infrastructure set up and government authorization to begin commercial operations. Completion of the plant and infrastructure setup may be less than USD 1.1 million, in which case CKR will have earned its 63% interest prior to investing the full amount. CKR has spent over USD 400,000 to date on the project and has consequently earned a 23% interest in the project so far. CKR must also make quarterly payments for a total of USD 180,000 (USD 85,000 paid to date) during the Farm-Out period which began on June 8, 2015 (on signing of the Joint Venture Agreement) and ends when CKR has earned its 63% ownership as outlined above. Should the Farm-Out Period need to be extended beyond the time in which CKR has invested its USD 1.1 million, Next will continue to be paid USD 25,000 per Quarter (or pro-rata for a partial Quarter) until the completion of the plant and Infrastructure set up and government authorization to begin commercial operations. In addition, in the case where the Farm-Out period is extended, and the revenue stream from graphite sales is less than USD 100,000 per month, CKR will loan Next Graphite USD 25,000 per quarter. Interest on the loan will be compounded monthly at a rate equal to one month term, London Interbank Offered Rate (LIBOR) plus 1%.