Toronto, ON, Canada, Dec. 22, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the "Company") (TSX-V: CCB) announces that its board of directors have approved the granting of 2,759,000 options under its Stock Option Plan. Of these, 2,259,000 options were issued to a senior officer and 500,000 options to a consultant to the firm. Each share under option carries a 5-year term and an exercise price of $0.085. All options vest immediately.

CANADA CARBON INC.“Ellerton Castor”

Chief Executive Officer and Director

Contact InformationE-mail inquiries: info@canadacarbon.comP: (917) 446-4213

Valerie PomerleauDirector Public Affairs and CommunicationsCanada 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).

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