Canada Carbon Announces CEO Change
OAKVILLE, ONTARIO, Mar 18, 2013 (Menafn - MARKETWIRE via COMTEX) --Canada Carbon Inc. (the "Company") (frankfurt:U7N1) announced today Paul Ogilvie, the President & Chief ExecutiveOfficer of the Company, has been replaced, effective immediately, byR. Bruce Duncan, the current Chairman of the Company (and its formerPresident & Chief Executive Officer for many years), as the interimPresident & Chief Executive Officer. The Company will look to replaceMr. Duncan as interim President & CEO as soon as an acceptablereplacement is found.
Mr. Duncan stated "We wish to thank Paul Ogilvie for his efforts overthe past year in setting in motion the Company's vision of ultimatelybecoming a leading carbon sciences company. We remain very excitedabout the Company's prospects - especially in light of recentlydisclosed developments with respect to the Company's Miller property.I look forward to working productively with Paul Ogilvie ontransitional matters with a goal to achieving our vision for theCompany".
ABOUT CANADA CARBON INC.
Canada Carbon is a carbon sciences company - our goal is to be anefficient graphite mining, sales and production company. We aretrying to achieve this by deploying proprietary technologies in ourpost mining and pre-milling air classification systems, soundenvironmental policies, best practices companywide and employing thebest people available to us. Together, our goals will be realized bybeing customer centric and using leading edge technologies.
Canada Carbon holds 100% interest in five graphite properties: TheAsbury, Miller, Walker, Dun Raven and Maria. The Asbury Mine islocated north of the Ottawa-Gatineau area. The open pit mine and millwere in operation from 1980 to 1989 where a total of less than 70,000tons were processed. The Miller mine is located northeast of Ottawain Grenville Township. This mine was worked around 1845 and wasprobably the first graphite operation in Canada. It is reported that25 cars of lump graphite were shipped from this deposit in the 1900s.
The Walker Mine is a past producer with about 816 tons of graphiteextracted from the mine between 1876 and 1920. The mine is locatednorthwest of Buckingham, in Buckingham Township. The Dun Ravengraphite deposit is easily accessible a few hours west of Montreal,in Thorne Township. The Maria Graphite Project is located in MariaTownship, south of the community of Bissett Creek on the Trans CanadaHighway between the cities of Ottawa and North Bay, Ontario. Theseclaims surround and are contiguous to Northern Graphite's BissettCreek graphite deposit. Northern Graphite recently reported theextraction of very large high purity flake graphite consistent acrossthe entire resource with overall recovery rates of 97%. (NGC.V NewsRelease 23/04/2012).
FORWARD LOOKING STATEMENTS: This news release containsforward-looking statements, which relate to future events or futureperformance and reflect management's current expectations andassumptions. Such forward-looking statements reflect management'scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Investors are cautioned thatthese forward looking statements are neither promises nor guarantees,and are subject to risks and uncertainties that may cause futureresults to differ materially from those expected. Theseforward-looking statements are made as of the date hereof and, exceptas required under applicable securities legislation, the Company doesnot assume any obligation to update or revise them to reflect newevents or circumstances.
All of the forward-looking statements made in this press release arequalified by these cautionary statements and by those made in ourfilings with SEDAR in Canada (available at www.sedar.com).
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Canada Carbon Inc.
R. Bruce Duncan
Interim Chief Executive Officer & President
SOURCE: Canada Carbon Inc.
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