04:48 PM EDT, 05/22/2019 (MT Newswires) -- Canada Carbon (CCB.TO) on Wednesday was the subject of a complaint to the British Columbia Securities Commission by the MiningWatch Canada environmental group alleging a review of the company's Miller project in Quebec is not worth the $96 million in damages it is claiming from a Quebec municipality that rescinded approvals for the graphite quarry.

MiningWatch alleged Canada Carbon failed to comply with the NI 43-101 Standard, which sets out disclosure rules for the mining industry, when it attached the $96 million value to the project. It commissioned a study by a mining-engineering firm which claimed the value was speculative.

Canada Carbon and the municipality of Grenville-sur-la-Rouge have been battling in court over the project since June, 2018. The company has not yet responded to MiningWatch's allegations.

Canada Carbon shares closed down $0.005 to $0.115 on the TSX Venture Exchange.

Price: 0.1150, Change: -0.0050, Percent Change: -4.17