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Canada Carbon Extends Surface Access Rights at Miller Property

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Canada Carbon Extends Surface Access Rights at Miller Property

Canada Carbon Inc. is pleased to announce the extension of its Surface Access Agreement with 9007-2224 Quebec Inc. for the Miller Property located in Grenville Township, Quebec. The agreement grants Canada Carbon surface access for another five years, allowing the company to continue its graphite prospecting and exploration program. As part of the agreement, Canada Carbon will pay the Landholder $8,000 in cash in the first year, with subsequent years offering the Landholder the option to receive either 40,000 common shares or a cash payment of $8,000. In the event that Canada Carbon begins commercial production during the agreement term, the payments will cease, and the Landholder will be entitled to a 2.5% net smelter royalty as per the Royalty Agreement. The Surface Access Agreement also grants Canada Carbon an exclusive option to acquire or lease the Miller Property for mineral extraction purposes. Canada Carbon is committed to responsible mining practices and aims to become a high-quality graphite producer. For more information on Canada Carbon's mining activities, please visit their website at www.canadacarbon.com.

Hot Take: Implications of Canada Carbon's Extended Surface Access Rights for New Businesses

The recent extension of Canada Carbon Inc.'s Surface Access Agreement for the Miller Property in Grenville Township, Quebec, could have significant implications for new businesses in the mining industry.

Opportunities for Exploration and Prospecting

The five-year extension allows Canada Carbon to continue its graphite prospecting and exploration program. This could encourage other new businesses to negotiate similar agreements, providing them with the opportunity to explore and prospect valuable resources.

Flexible Payment Options

The agreement's flexible payment options, which offer the Landholder the choice between cash or common shares, could serve as a model for new businesses seeking to establish mutually beneficial relationships with landholders.

Transition to Commercial Production

The stipulation that payments will cease once Canada Carbon begins commercial production, and the Landholder will instead receive a net smelter royalty, highlights the potential for new businesses to transition from exploration to production.

Exclusive Acquisition or Lease Options

The exclusive option for Canada Carbon to acquire or lease the Miller Property for mineral extraction purposes could inspire new businesses to seek similar arrangements, securing their long-term access to valuable resources. Overall, Canada Carbon's extended Surface Access Agreement could serve as a blueprint for new businesses in the mining industry.
Story First Published at: https://financialpost.com/globe-newswire/canada-carbon-extends-surface-access-rights-at-miller-property
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