The company had initially paid up C$30,000 ($30,258) with a second cash payment of C$70,000 ($70,608) made in August 2012.
A further C$200,000 ($201,738) were paid to UBR to close the transaction.
UBR will receive royalty of 0.75% on the net graphite production cost for 10 years following commencement of production.
Canada Carbon also offered 5,000,000 common shares, representing 8.7% share in the firm, to Uragold as part of the consideration.
The company plans to commence operations at the past-producing mine within the next 12 to 14 months.
Canada Carbon CEO Paul Ogilvie commented that Asbury is highly strategic asset for the firm and intends to fast-track the mine’s re-opening.
Asbury Graphite Mills CEO Stephen Riddle added, "The Asbury mine contains very high quality natural flake graphite that is easy to process to 95% purity and has a high percentage of large flakes."
