Update on Legal Proceedings

Canada Carbon Inc. (the “Company”) (TSXV:CCB, FF:U7N1) wishes to provide a further update on the Court of Appeal hearing of May 17th, 2019 and the Company’s press release of May 21st, 2019.

The Court of Appeal has determined that after reading the briefs of both parties, the Appeal Court judges now wish to hear from the parties on the question of jurisdiction on August 28th, 2019. If the Court determines that it does have jurisdiction, it will then decide if the Turcotte judgment was well founded in concluding that the Company’s damage claim is not a SLAPP action.

On Friday July 19th, 2019, the Company presented a motion in the Superior Court to have its Judicial review heard by preference. While the Judge acknowledged that it was in the best interest of all parties to obtain a quick resolution to the litigation, given the lack of availability of court time for a trial of our proposed length, the motion was not granted.

CANADA CARBON INC.

“R. Bruce Duncan”
CEO and Director

Contact Information
E-mail inquiries: info@canadacarbon.com
P: (905) 813-8408
F: (905) 813-1985

“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).

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Source: www.globenewswire.com