Canada Carbon Announces Option Grants

Toronto, March 01, 2023 - Canada Carbon Inc. (the "Company") (TSX-V: CCB) (OTC: BRUZF) (Frankfurt: U7N1) announces that it has granted options (each, an "Option") to purchase an aggregate of up to 3,200,000 common shares in the capital of the Company (each, a "Common Share") to the directors and Chief Executive Officer of the Company. Each Option is exercisable into one Common Share at $0.15 per share for a period of five years from the date of grant. The Options vest immediately and are granted in accordance with the Company's equity incentive plan.

Canada Carbon Inc.

"Ellerton Castor"

Chief Executive Officer and Director

For further information please contact:
Canada Carbon Inc.

E-mail inquiries: info@canadacarbon.com
P: (905) 407-1212

"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).