MISSISSAUGA, Ontario, Oct. 12, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company") (TSX-V:CCB), (FF:U7N1) announces it has closed a non-brokered private placement (the “Private Placement”) for the issuance of 3,478,260 flow-through shares for $0.115 per share for gross proceeds of $399,999.90. No finder’s fees were paid in connection with the Private Placement.

In accordance with applicable securities legislation, all securities issued in the Private Placement are subject to a statutory hold period of four months and one day.

The proceeds of the Private Placement will be used on eligible expenditures for the upcoming exploration program on the Miller property.

For further information:

Olga Nikitovic
Chief Executive Officer
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
valerie@ryanap.com
(819) 856-5678

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).