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OAKVILLE, Ontario, July 18, 2018 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V:SJL) with reference to the previous press releases dated June 21st, June 29th, and July 4th of this year, wishes to announce that it placed an aggregate of 1,100,000 units (“Flow-Through Units”) at a price of $0.05 per Flow-Through Unit for gross proceeds to the Company of $55,000 in the closing of the third tranche of the private placement. Each Flow-Through Unit consists of one (1) common share in the capital of the Company issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) (each a “Flow-Through Share”) at a price of $0.05 per Flow-Through Share and one (1) common share purchase warrant (each whole common share purchase warrant a “Warrant”). Each whole Warrant entitles the holder to acquire one (1) additional common share in the capital of the Company (“Common Share”) at an exercise price of $0.075 per Common Share for a period of 36 months from the date of issuance. The Company intends to use the proceeds from the Flow-Through Units for exploration and development expenditures on its mineral properties.
All securities issued as part of the Offering are subject to a four month and one (1) day hold period.
The Company anticipates closing the fourth and final tranche of the private placement on or before July 26th, 2018.
About Saint Jean
Saint Jean is a publicly traded carbon science company, with specific interests in energy storage, green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: www.saintjeancarbon.com
On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Chairman
Tel: (905) 844-1200
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.
This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Saint Jean’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, “intends” ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’. Such forward-looking statements include those with respect to the Company’s intention to use the proceeds of the Flow-Through Units for exploration and development expenditures on its mineral properties.
These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. The forward-looking statements in this news release assume, inter alia, that the conditions for completion of the private placement, including regulatory approval will be met.
Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks which could affect Saint Jean’s ability to complete the private placement, including that required consents and approvals from regulatory authorities will not be obtained.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.