Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V:CYL) (OTC:CYLYF) (FSE:CCY) is pleased to announce it has completed a non-brokered private placement offering of units, at a purchase price of CDN$1.00 per Unit for aggregate gross proceeds of CDN$2,000,000 led by a strategic investment from Mr. Sasha Jacob. Each Unit will be comprised of CDN$1.00 in principal amount of convertible debentures and two common share purchase warrants. The principal amount of the Convertible Debentures will be convertible at the holder’s option into fully-paid common shares in the capital of the Company at any time prior to Maturity in three years, at a conversion price of CDN$0.25 per share. This is a premium of 25% to the current share price of CDN$0.20.