Canada Carbon Closes Red Chris South Royalty Sale with Newcrest Mining Limited for $225,000
September 8th, 2020, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V: CCB) further to its press release of July 29th, 2020, the Company announces that it has sold its royalty on the Red Chris South Project (“Red Chris”) to Newcrest Mining Limited (“Newcrest”) (ASX:NCM) for cash consideration of C$225,000. Newcrest Mining Limited had elected to exercise its ROFR.
Executive Chairman and CEO R. Bruce Duncan remarked, “We are pleased with the sale of this non-core asset which will provide additional cash that enables us to focus on Canada Carbon’s core business of advancing the Miller Project.”
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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).