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A Constructive First Meeting Between GSLR and Canada Carbon

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GRENVILLE-SUR-LA-ROUGE, Quebec, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (“the Company” or “Canada Carbon” or “CCB”) (TSX-V:CCB), (FF:U7N1), and the Municipality of Grenville-sur-la-Rouge (“GSLR”) are pleased to announce that they held a meeting on July 27, 2021 to begin a meaningful dialogue. Virtually all previous interactions between the parties were limited to correspondence via emails and letters and can be found on the Miller Project website in the Document Library under the Agreement with GSLR tab.

In its notification of a change in preliminary orientation, La Commission de Protection du territoire Agricole du Quebec (“CPTAQ”) indicated that additional information was required from Canada Carbon in order for its zoning change application to be appropriately reviewed. The additional data that Canada Carbon plans to provide is also of interest to the municipality of GSLR. Canada Carbon will begin the planning process for the work to be conducted. While Canada Carbon’s experts will conduct the work, GSLR’s experts will be invited to observe the field work. In addition, input from GSLR’s experts will be requested. As with all previous studies, the data will be made public and shared with the municipality.

"We believe that the additional studies will help reassure the municipality about our project. Our respective experts will communicate with each other in advance of the work plan being finalized and it is our hope that the experts will be in agreement as to the scope and nature of work to be performed. As we gather more data, we plan to hold face-to face meetings with the municipality’s citizens to share the data and address their concerns," said Olga Nikitovic, interim CEO.

Both parties have agreed to continue the dialogue.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.

“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).