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Toronto, ON, Canada, January 24, 2024 (GLOBE NEWSWIRE) — Following its press release dated January 9, 2023, Canada Carbon Inc. (the “Company”) (TSX-V: CCB) (OTC: BRUZF) (Frankfurt: U7N1) announces that it has obtained approval from the TSXV for an agreement to extinguish a total of $145,417 of debt owed to former CFO and CEO Olga Nikitovic. The debt extinguished in connection with the issuance of a total of 4,406,575 shares in the Company’s equity (the “Common Shares”) at an estimated value of $0. 033 consistent with the Share (the “Debt Settlement”).
The common shares issued as part of the debt agreement will be subject to a statutory hold period of four months and one day expiring on May 25, 2024.
CANADA CARBON INC. “Ellerton Castor” President, CEO and Director Contact Information Email Inquiries: info@canadacarbon. com P: (905) 407-1212
FORWARD-LOOKING STATEMENTS
This press release comprises announcements that constitute “forward-looking data” (“forward-looking data”) within the meaning of applicable Canadian securities legislation. All announcements, other than past facts, constitute forward-looking data and are based on expectations, estimates and projections as of the date of this press release. Anything having to do with predictions, expectations, beliefs, plans, projections, objectives, assumptions, timing or long-term performance (often, but not always, using expressions such as “expects”, or “does not expect”, “is expected “, “anticipates”). or “does not anticipate,” “does not plan,” “budget,” “schedule,” “forecast,” “estimate,” “believe,” or “intend” or diversifications of those words and expressions or stating that certain actions, events or effects “possibly” or “could”, “could”, “could” or “are expected to happen or be achieved) are not past facts and would possibly constitute forward-looking data. Forward-looking statements contained in this press release include statements regarding the debt agreement. In disclosing the forward-looking data contained in this press release, the Company has made safe assumptions. Although the Company believes that the expectations reflected in such forward-looking data are reasonable, it can give no assurance that the expectations contained in such forward-looking data will prove to be correct. Known and unknown risks, uncertainties and other points that could possibly cause actual effects and long-term events to differ materially from those expressed or implied by such forward-looking data. These points include, but are not limited to: compliance with detailed government regulations; domestic and foreign legislation and regulations that adversely affect the Company’s business and the effects of operations; the effect of COVID-19; and general commercial, economic, competitive, political and social insecurities. Accordingly, readers should not place undue reliance on any forward-looking information contained in this press release. Except as required by law, the Company disclaims any objective and assumes no legal responsibility to update or revise forward-looking data to reflect actual effects, whether as a result of new data, long-term occasions, adjustments in assumptions, adjustments in points that affect those forecasts. -data search or others.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.