CANADA CARBON INC. COMPLETES SHARES FOR DEBT TRANSACTION

Jan 30, 2023

Toronto, ON, Canada, Jan. 30, 2023 (GLOBE NEWSWIRE) -- (TSX-V: CCB) (OTC: BRUZF) (Frankfurt: U7N1). Further to its press release dated January 17, 2023, Canada Carbon Inc. (the "Company") announces that it has received TSXV approval for an agreement to extinguish an aggregate of $200,000 in debt owing to former Chief Financial Officer and Chief Executive Officer, Olga Nikitovic. The debt was extinguished 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”).

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