Canada Carbon to File $96 Million Lawsuit Against GSLR and Council Members
March 05 2018 - 7:00AM
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-la-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. “R. Bruce Duncan” CEO
and Director
Contact InformationE-mail
inquiries: info@canadacarbon.comP: (604) 685-6375F: (604)
909-1163www.canadacarbon.com
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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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