May 21, 2019, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V:CCB), (FF:U7N1) announces that on Friday, May 17, 2019, the attorneys for the Company appeared before the Court of Appeal to debate the judgment of Madam Justice Turcotte who concluded that the action for damages of the Company is not abusive. Mr. Justice Lévesque informed legal counsel for both parties that before the Court can take up this appeal, it must first determine whether it has jurisdiction to hear the appeal in view of Section 31 of the Quebec Code of Civil Procedure, notwithstanding the leave to appeal that was previously granted by the Supreme Court.
In order to clarify this situation, legal counsel for each party will have to send a 10-page argument on the issue: GSLR before June 3, 2019 and the Company before June 18, 2019. At the end of this exercise, if the Court of Appeal concludes that it does not have jurisdiction, the judgment granting leave to appeal will be set aside and the appeal by GSLR of the Turcotte judgment will be dismissed. If the Court finds that it has jurisdiction then the appeal will be heard and a judgment will then be rendered by the Court of Appeal.
CANADA CARBON INC.
“R. Bruce Duncan”
CEO and Director
E-mail inquiries: email@example.com
P: (604) 685-6375
F: (604) 909-1163
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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).