The TSX Venture Exchange has accepted for filing documentation pertaining to an amended surface access agreement, dated Aug. 17, 2023, between Canada Carbon Inc. and an arm's-length party (the vendor). Pursuant to the agreement, the company will be granted surface access to the Miller property, a property located in Grenville, Que., for an additional five-year period.

As consideration, the company must pay the vendor up to $40,000 in cash over the five-year term of the agreement. The vendor has the option to receive an aggregate of up to 160,000 common shares in lieu of $32,000 of the cash consideration. In addition, the company will pay the vendor a rental fee for the property in the amount of $2,000 per year.

Should the company begin production during the term, the payments outlined herein will cease and the vendor will be entitled to a 2.5-per-cent net smelter royalty upon and subject to the terms of a royalty agreement with the vendor.

For further details, please refer to the company's news release dated Aug. 24, 2023.