Canada Carbon Provides Update on Appeal Hearing
May 21 2019 - 06:47AM
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
Contact InformationE-mail
inquiries: info@canadacarbon.comP: (604) 685-6375F: (604)
909-1163
“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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