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Saint Jean Carbon Inc (2)
Symbol SJL
Shares Issued 75,607,532
Close 2019-06-13 C$ 0.02
Recent Sedar Documents

Saint Jean closes $159,687 private placement

2019-06-13 15:33 ET - News Release

Mr. Paul Ogilvie reports

SAINT JEAN CARBON CLOSES BOOKS ON PRIVATE PLACEMENT

Saint Jean Carbon Inc. has closed its books with respect to the private placement announced on March 19, 2019.

The company raised a total of $159,687.50 by issuance of 4,562,500 units at a price of 3.5 cents per common unit. In aggregate, the company paid a cash finder's fee in the amount of $6,853.88 to one arm's-length finder in relation to the offering.

Each common unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant entitled the holder to acquire one additional common share at an exercise price of five cents per common share for a period of 36 months from the date of issuance.

The company intends to use the proceeds of the common units to preserve the company's existing operations and for general corporate and administrative purposes. The breakdown of the intended use of proceeds for the ensuing six-month period is shown in the attached table.

Purpose                                                                  Amount 
     
Outstanding payables                                                 $67,178.16  
Outstanding payables of related parties for management fees          $15,138.40  
Outstanding payables of related parties for non-management fees       $2,835.00   
Current operations                                                   $39,252.32  
Current operations for management fees of related parties            $24,701.25  
Current operations for non-management fees of related parties         $2,016.00   
Private placement costs                                               $8,566.37   
Gross proceeds                                                      $159,687.50

Although the company intends to use the proceeds of the offering as described in the attached table, the actual allocation of net proceeds may vary from the uses set forth in the table, depending on future operations or unforeseen events or opportunities.

All securities issued as part of the offering are 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 recreation, with holdings in graphite mining and lithium claims in Quebec in Canada.

We seek Safe Harbor.

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