CANADA CARBON SIGNS MOU TO SALE GRAPHITE WITH IRONDEQUOIT CARBON CO., LLC, The Canadian Business Journal

TORONTO, ON CANADA, OCTOBER 6, 2022 (GLOBE NEWSWIRE) — Carbon Canada (TSX-V:CCB) (Company”) I am pleased to announce that we have signed a Memorandum of Understanding (“MOUs”) Irondequoit Carbon Co., LLC (“iron decoit”) Offers future joint venture potential and a minimum sale of 25% of the graphite produced from our Miller deposit in Grenville-sur-la-Rouge, Quebec (“Target graphite”).

Under the terms of the MOU, Irondequoit will have a three-year (extendable) period to enter into binding offtake agreements with certain entities involved in aerospace, high-performance lithium battery energy storage, and other high-margin industries. may) have exclusive rights. In addition, Irondequoit will support the company’s efforts to raise the capital needed to build a graphite primary processing operation on the Miller site. Finally, the MOU is considering forming a joint venture agreement with the following main objectives:

1. Minimum 25% commitment of eligible graphite from Miller.
2. Development of a value-added processing business in the United States (possibly in New York State).
3. An economic structure in which the Company and Irondequoit share the net income from the joint venture 50/50.

Ellerton Castor, CEO of the company, commented: This MOU of his will lay the foundation for a pathway that can accelerate the achievement of the Company’s long-standing goal of safe, responsible and profitable development of the Miller deposit. Irondequoit is an excellent partner and brings a very complementary set of capabilities to any venture under consideration. I am really looking forward to working with you over the next few months. ”

Irondequoit spokesman Stefan Hawrylak commented:

Developing this safe Canadian ultra-high purity nuclear graphite deposit, which has achieved 99.9998% Ct purity utilizing a commercially available nuclear graphite thermal upgrade, is vital to the long-term national security of Canada and the United States. Irondequoit will work with various stakeholders in the defense and aerospace industries to bring this important source of natural graphite to market. We look forward to working with Mr. Castor and his Carbon team in Canada. “

Canada Carbon Company

“Eraton Caster”
Chief Executive Officer and Director
contact address
Email us: [email protected]
Phone: (905) 407-1212

IRON DEQUOIT CARBON CO., LLC.

“Stephen howli rack“
spokesperson
contact address
Email us: [email protected]
Phone: (302) 313-6821

Forward-Looking Information
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement discussing predictions, expectations, beliefs, plans, predictions, objectives, assumptions, future events, or performance (phrases such as “expect,” “do not expect,” “expect,” “predict,” etc.) is not always used) or “not expected”, “planned”, “budgeted”, “intended”, “forecast”, “estimate”, “believe”, “intend”, or such “could” or “could”, “could”, “could”, or “could” refer to variations of a word or phrase or a particular action, event or outcome “to be” is considered to occur or be achieved) may be forward-looking information rather than statements of historical fact. Forward-looking information in this press release includes the development and financing of our Miller deposits, the commencement of a joint venture with Irondequoit Offering, future production from our Miller deposits, sales agreements, and other related matters. contains a description of In disclosing the forward-looking information contained in this press release, we have made certain assumptions. Although we believe that the expectations reflected in such forward-looking information are reasonable, there can be no assurance that the expectations reflected in such forward-looking information will prove correct. Known and unknown risks, uncertainties and other factors that could cause actual results or future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: Comply with a wide range of government regulations. financial capacity; ability to develop mirror deposits; domestic and foreign laws and regulations that adversely affect our business and results of operations; Impact of COVID-19. General business, economic, competitive, political and social uncertainties. Readers should therefore not place undue reliance on the forward-looking information contained in this press release. Except as required by law, we make no forward-looking statements to reflect actual results as a result of new information, future events, changes in assumptions or changes in factors affecting such forward-looking statements. disclaims any intention, and assumes no obligation, to update or correct any information relating to – Appearance information or otherwise.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

CBJ Newsmaker