U.S. Markets closed

Canada Carbon Provides Update on Legal Proceedings

VANCOUVER, British Columbia, March 01, 2019 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the “Company”) (CCB.V) announces that on February 28th, 2019, the Company's lawyers appeared before a Judge of the Superior Court of Quebec as part of advancing the Court's judicial review proceedings. The purpose of this hearing was as follows:

1)  Debate the legality of certain conclusions covered by the judicial review, seeking, among other things, to order the Commission for the Protection of Agricultural Lands of Quebec ("CPTAQ") to complete the analysis of the Company's application and to render a decision within a reasonable time, and;

2)  To discuss the length of the upcoming trial and set a date.

On the first point, the Company is asking the Superior Court to declare that its application to the CPTAQ for the Miller Project is not only admissible but also that the CPTAQ be ordered to complete its analysis and render its decision within a reasonable time. The CPTAQ asked the Court to bar any conclusions against it on the premise that they encroached on the exclusive jurisdiction of the CPTAQ. The Court rejected the arguments of the CPTAQ and concluded that the matters were reviewable by the Court.

On the second point, the attorneys for the Company did not agree with the Municipality on the possible duration of the upcoming trial. The Court asked the attorneys for both parties to come to an agreement on submissions that could shorten the length of the hearing. Once this exercise has been completed, counsel for both parties will appear before the Court to set the date of the trial on the judicial review.

In addition, Canada Carbon welcomes the fact that Judge Georges Massol of the Quebec court decided last week, at the request of the Company, to suspend the request for appeal proceedings that are currently pending before the Quebec Court in the wake of a decision made several months ago by the Tribunal administratif du Québec ("TAQ") which concluded that the company's application to the CPTAQ is "inadmissible". Counsel for GSLR and one intervener objected to the suspension request and insisted that this case should proceed. Mr. Justice Massol rejected their arguments and concluded that there is a significant risk of conflicting judgments on the issues raised in the appeal and similar issues that are already before the Quebec Superior Court in the above-mentioned judicial review proceedings.

CANADA CARBON INC.

R. Bruce Duncan
CEO and Director

Contact Information
E-mail inquiries: info@canadacarbon.com
P: (604) 685-6375
F: (604) 909-1163

“Neither 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 release.”

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions.  Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).