February 13th, 2014, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V: CCB) announces that it has taken legal action to address a series of false and malicious comments published in the fall and winter of 2013 by four anonymous posters on the website: www.stockhouse.com (the “Stockhouse Website”). The Company does not take this action lightly, but has determined that it is necessary to protect the reputations of the Company and its CEO in light of the frequency and severity of the comments, and the posters’ refusal to provide apologies and retractions.
The Company has attended at the Supreme Court of British Columbia and has now obtained orders for the production of all identifying information regarding four posters known as “2guys”, “Jinbag”, “Doobyus” and “Chubster56”. The Company is dealing with each poster on a case by case basis and is considering all available legal options. The Company is also reviewing with its legal counsel the conduct of five additional posters.
The Company is pleased to announce that it has already reached settlements with the two posters known as “2Guys” and “Jinbag”. Under the terms of these settlements these posters have agreed to publish apologies and retractions on the Stockhouse Website and have agreed to reimburse the Company for legal fees incurred to date. The full text of these apologies is outlined below.
The Company is still in the process of dealing with the two posters known as “Doobyus” and “Chubster56”. The poster known as “Doobyus” has been identified as Paul K. Cooper, a former consultant of the Company and the current Chief Operating Officer of Saint. Jean Carbon Inc. (TSXV:SJL). The Company has sought an apology and retraction from Mr. Cooper but has yet to receive any response and is considering appropriate further legal recourse in light of Mr. Cooper’s current position and history with CCB. The poster known as “Chubster56” has only recently been identified and the Company is in the process of contacting this poster.
Apology from 2guys:
I wish to apologize to the company and its shareholders for my comments made under the username “2guys”. I now understand that my comments, which were intended to refer to individual Stockhouse posters, may not have been clear to all readers. I want to clarify that I did not intend for my comments to be disparaging of the company or its management in any way. In particular, I did not intend to suggest that CCB is a “pump and dump”, that CCB is a scam, or that anyone affiliated with CCB has tried to artificially inflate the stock price. I have not seen any evidence of impropriety on behalf of the company and I do not believe that the Company is acting in any way other than in the best interests of its shareholders. At the time I made these comments, I did not have any financial interest in CCB and my comments were not made for any ulterior motive. As a sign of good faith I have voluntarily provided my personal contact information to the Company and have been in contact with the Company. In order to confirm that I did not have any ulterior motive and was not colluding with any other posters, I have also agreed to provide the company with copies of all relevant inbox messages to and from the “2guys” account. I trust that this will allow the Company to address any concerns it may have and repair any damages my comments may have caused.
Apology from Jinbag:
I wish to apologize to the company and its shareholders for the comments made under the username "Jinbag". I want to clarify that I did not intend to suggest that CCB is "operated by crooks" or that CCB is a "pump and dump". I have not seen any evidence of impropriety on behalf of the company and I do not believe that the company is acting in any way other than in the best interests of its shareholders. I do not and did not have any ulterior motive. I wish to confirm that I have no collusion with any other posters and I do not have any other "aliases". I have agreed to provide the company with copies of all relevant inbox messages sent to and from "Jinbag" account. I trust this will allow the company to address any concerns it may have and repair any damages my comments may have caused.
Jas Basi (Jinbag)
On Behalf of the Board of Directors
CANADA CARBON INC.
“R. Bruce Duncan”
CEO and Director
E-mail inquiries: email@example.com
P: (604) 638-0971
F: (604) 638-0973
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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).