Canada Carbon Inc. (TSXV:CCB) announces that on April 17th, 2018, the Company agreed to provide a judicial deposit in the amount of $8,500 to be held in trust by its legal counsel to secure the legal costs (excluding attorney fees) in the Judicial Review and Declaratory Judgment against the Municipality of Grenville-sur-la-Rouge (“GSLR”).
Canada Carbon Inc. (TSXV:CCB) announces that on April 17th, 2018, the Company agreed to provide a judicial deposit in the amount of $8,500 to be held in trust by its legal counsel to secure the legal costs (excluding attorney fees) in the Judicial Review and Declaratory Judgment against the Municipality of Grenville-sur-la-Rouge (“GSLR”). A court date of Friday April 20th, 2018 was originally scheduled to determine the amount of the judicial deposit, however the ability of the parties to reach an agreement in advance eliminated the need for the court date.
The Judicial Review is advancing according to the schedule established by the Courts. Counsel for GSLR will be taking Mr. R. Bruce Duncan’s deposition on May 10th, 2018. A request of documents for examination has also been received by the Company. Other steps (e.g., filling of a plea, deposition, etc.) will follow. The court date for the Judicial Review will be set on November 22nd, 2018.
As previously reported on April 9th, 2018, counsel for GSLR requested that Grenville-sur-la-Rouge be entitled to carry out a hydrogeological assessment of the Miller Project in the context of this case. The Court held that it was not appropriate to allow GSLR to produce such an expert report and therefore refused that request. The Company has been notified that legal counsel for GSLR will present a motion for permission to appeal the refusal of the Judge to permit the production of an expert report. Canada Carbon will be contesting the motion.
While the Judicial Review will take time, the Company’s primary objective is to get the Miller Project application process reactivated with the Commission for the Protection of Agricultural Land (“CPTAQ”). Accordingly, as soon as all of the files were received from the CPTAQ, the Company filed a request to the Quebec Administrative Tribunal (“QAT”) to expedite the date for the review of the CPTAQ’s decision to rule the Company’s application inadmissible. The Company anticipates that the QAT’s eventual decision will have the effect of reactivating the application process for the realization of the Miller project.
|Olga Nikitovic||Pierre Bouchard|
|Canada Carbon||INDICO Communications|
“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).