GSLR Requests One Week Delay at Today’s Hearing

Canada Carbon Inc. (the “Company”) (TSXV:CCB), (FF:U7N1) announces that this morning, the Company presented its motion to the Superior court to obtain the authorization to carry out a quick debate to split the Judicial review into two components: 1) debate on the graphite mine project, based on the fact that Section 246 of the Planning Act protects mining projects that are carried out under the Quebec Mining Act  and 2) debate on the marble quarry.

The Municipality requested the postponement of the motion in order to allow the CPTAQ to familiarize itself with the motion and decide if it wants to make representations.

The Company’s motion to split will be presented on Friday November 23rd, 2018. The attorneys for both parties declared to the Court that the Company’s motion will proceed at that date, whether the CPTAQ decides to participate in this debate or not.

It is important to remember that the graphite mine project and the marble quarry project are not subject to the same conditions: the mine project is protected by section 246 of the Planning Act and it does not require that the Company obtain an attestation of conformity from GSLR, as the municipality’s regulations do not permit the opposition to a mining project. As for the marble project, the said attestation of conformity is required, and it has been obtained but is contested by the current municipal council for GSLR.

R. Bruce Duncan, CEO and Director of Canada Carbon Inc. stated, “This motion is an important step in our strategy to reactivate our graphite mine project as soon as possible”.

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).

Suite 605 –1166 Alberni Street
Vancouver, BC, V6E 3Z3
P: (604) 685-6375   F: (604) 909-1163
Email: info@canadacarbon.com
Web: www.canadacarbon.com

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Source: globenewswire.com