CANADA CARBON INC. ANNOUNCES SHARES FOR DEBT TRANSACTION

Jan 17, 2023

Toronto, ON, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the "Company") announces that it has entered into a debt settlement agreement with former Chief Financial Officer and Chief Executive Officer, Olga Nikitovic, to settle an aggregate of $200,000 of accrued management fees in consideration for the issuance of an aggregate of 3,333,333 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.06 per share (the “Debt Settlement”). Ms. Nikitovic’s tenure with the Company concluded in December 2021.

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