Canada Carbon to File $96 Million Lawsuit Against GSLR and Council Members
March 5th 2018, Vancouver, BC, Canada – Canada Carbon (the “Company”) (CCB:TSX-V) (BRUZF:OTC) (U7N1:FF) - Following Canada Carbon's filing of an appeal before Quebec's Administrative Tribunal to review the CPTAQ's decision to administratively close its file, Canada Carbon formally notified and filed, on March 2nd, 2018, an application for Judicial review and Declaratory Judgment before the Superior Court, against Grenville-sur-Rouge, to annul the resolution of non-compliance adopted on December 12th, 2017 by its Municipal Council, to declare that Canada Carbon has crystallized its right to a mine and a marble quarry from the moment it filed a request before the CPTAQ and finally to declare that the council of Grenville-sur-la-Rouge acted in bad faith. On Friday March 2nd, 2018 at 10:52 a.m. EST, Thomas Arnold, Mayor for Grenville-sur-la-Rouge accepted service of the Judicial review application.
As required by law, a 15-day notice must be given prior to the filing of an action for damages. Accordingly, on Friday March 2nd, 2018, Grenville-sur-la-Rouge and all of its councilors were put on formal notice that an action for damages of $96,000,000 will be served and filed before the Superior Court.
CANADA CARBON INC.
CEO and Director
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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).