Canada Carbon Files Lawsuit Against The Municipality of Grenville-sur-la-Rouge in Order to Protect the Company's Rights
June 11 2018 - 12:43PM
Canada Carbon (the "Company") (TSX-V:CCB)
(OTC:BRUZF) (FF:U7N1) today filed in the Superior Court of Quebec
its action for $96 million in damages against the Municipality of
Grenville-sur-la-Rouge ("the Municipality"), and served the
Municipality with a copy of the statement of claim. In order to
maintain its rights of recourse against the Municipality, under the
applicable municipal laws, the Company was required to: 1) send to
the Municipality a notification of its intention to file a lawsuit,
which it did on March 2, 2018; and 2) file its lawsuit "within 6
months after the date on which the cause of action arose" (section
1112.1 Municipal Code of Quebec), which the Company filed with the
Court earlier today.
By filing its action in damages against the
Municipality, the Company ensures that it retains its right to
claim compensation from the Municipality in the event that the
actions taken by the Municipality cause the Company's Miller
Project to fail or irreparably jeopardize the achievement of social
acceptability of the Project.
The amount claimed represents the damages (the
exact amount of which is yet to be determined) which will be caused
to the Company if it is not able to obtain its authorization from
the provincial Commission for the Protection of the Agricultural
Territory ("CPTAQ") by acts of the Municipality, if its Project is
blocked irremediably, or if the social acceptability of the project
is irreparably compromised by the actions of the Municipality or
its representatives.
As part of this legal action, the Company
reserves its right to potentially add Mrs. Natalia Czarnecka, Mr.
Thomas Arnold, Marc-André Le Gris and any other person as
co-defendants to this action if they make untimely, false or
misleading statements in order to discredit the Company or its
Project and thereby compromise the social acceptability of the
Project.
R. Bruce Duncan, CEO and Director of Canada
Carbon, commented "From the beginning, we have rigorously complied
with the laws and regulations that apply to mining projects in
Quebec. Our priority is to pursue our efforts with the competent
authorities to obtain all of the necessary authorizations for the
development of the Miller graphite mine and marble quarry
project."
The Company has applied for a judicial review by
the Superior Court of the Municipality's recent declaration that
the Miller Project is not compliant with municipal development
regulations. The Company has also applied to Quebec's
Administrative Tribunal ("TAQ") for a review of CPTAQ's decision to
declare the Company's application inadmissible as a result of the
Municipality's declaration of non-compliance. Until such time as
these reviews are completed, the Company will suspend its action
for damages against the Municipality to avoid unnecessary clutter
of the judicial system, and to limit the legal costs of all parties
to the suit.
CANADA CARBON INC.
“R. BRUCE DUNCAN”
CEO and Director
Contact InformationE-mail
inquiries: info@canadacarbon.comP: (604) 685-6375F: (604)
909-1163www.canadacarbon.com
“Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
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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