Mr. Paul Ogilvie reports
SAINT JEAN CARBON ANNOUNCES $400,000 PRIVATE PLACEMENT
Saint Jean Carbon Inc. intends to complete a non-brokered private placement financing of up to 11,428,571 units at a price of 3.5 cents per unit for gross proceeds of up to $400,000. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share in the capital of the company at an exercise price of five cents per warrant share for a period of 36 months from the date of issuance. The company intends to use the proceeds of the offering to preserve the company's existing operations and for general corporate and administrative purposes. The company intends to close the offering as soon as practicable.
Closing of the offering is subject to customary conditions and regulatory approvals. The pricing of the offering is in reliance on the temporary relief measures established by the TSX Venture Exchange, and therefore, the offering and pricing of the offering require approval of the exchange having regard to the temporary relief criteria set out in the exchange's bulletin of April 7, 2014, in relation to the extension and modification of temporary relief from certain pricing requirements.
All securities issued as part of the offering will be subject to a four-month-and-one-day hold period.
About Saint Jean Carbon Inc.
Saint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada.
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