Canada Carbon, Grenville-sur-la-Rouge and CPTAQ Reach Out of Court Settlement
February 19 2020 - 8:49PM
Canada Carbon Inc. (the “Company”) (TSX-V:
CCB) is pleased to announce that it has reached a
tri-party out-of-court settlement with the Municipality of
Grenville-sur-la-Rouge (“GSLR”) and Commission de protection du
territoire agricole (“CPTAQ”). Under the terms of the settlement,
all current outstanding legal proceedings are abandoned including
the damages claim against GSLR of $96 million.
For its part, Grenville-sur-la-Rouge recognizes
that the marble quarry component of the Miller Project complied
with its zoning by-law when CCB’s request was filed with CPTAQ on
December 14th, 2016 and that Canada Carbon's rights regarding the
"marble quarry" component crystallized at that time. It also
recognizes that any subsequent zoning by-law changes are not
enforceable against the marble quarry component of the Miller
Project.
GLSR recognizes that CCB has the right to
proceed with the Miller project because GSLR does not have
jurisdiction over the graphite component of the Miller
Project. It also acknowledges that the notice of compliance
signed March 16, 2017 was admissible. Consequently, the CPTAQ
undertakes to resume their analysis of the Miller Project file in a
rigorous and expedited manner.
Canada Carbon and Grenville-sur-la-Rouge agree
to present all the factual information relating to the Miller
project as well as its various impacts on the environment and the
community in the framework of forums made available to the public.
Both parties agree to act reasonably, in good faith and in the
public interest. The parties have also agreed to initiate dialogue
on the Miller project and put forward a process applicable to this
end, with the assistance of the Ministry of Energy and Natural
Resources (MERN), insofar as the latter agrees to act in this
capacity.
Canada Carbon will hold public consultations in
GSLR on all aspects of the Project. Canada Carbon will ensure that
it adheres to the noise and dust limitations set out by Regulation.
Canada Carbon will collaborate with GSLR in carrying out any
necessary studies that will aid GSLR with understanding, analyzing
or participating in improving the Miller Project for the purpose of
social acceptability.
Canada Carbon has agreed to enter into cost
sharing agreements with various stakeholders to pay its
proportionate share of the cost of the modification of municipal
roads in GSLR which are directly affected by our planned trucking
activity. We have also agreed to limit our blasting and
crushing activities within certain hours on weekdays.
Finally, as previously announced, Canada Carbon
will request to the Department of Environment and Fight against
Climate Change (MELCC) that the Miller Project be submitted to the
Bureau of Public Hearings on the Environment (BAPE), when the
timing is appropriate. The Miller project has still to produce a
positive feasibility study before completing its environmental
impact assessment.
Executive Chairman and CEO, R. Bruce Duncan
commented, “We are very pleased with this out-of-court settlement
with the municipality of Grenville-sur-la-Rouge. The settlement
benefits all parties and will revive the Miller project and enable
the analysis of the project’s impacts and merits to resume.”
Mr. Duncan further stated, "We are particularly
pleased by the prospect of establishing a process for having
dialogue with GSLR and resuming dialogue with the population, where
the factual information regarding the Project can be analyzed,
understood and modified if required, to arrive at a socially
acceptable project."
CANADA CARBON INC. “R. Bruce Duncan”CEO and
Director
Contact InformationE-mail
inquiries: info@canadacarbon.comP: 905 813-8408
“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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