Saint Jean Carbon Appoints Mr. David Da Rin to the Board
OAKVILLE, ONTARIO--(Marketwired - June 19, 2015) - Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL) is pleased to announce the appointment of Mr. David Da Rin to the Board of Directors effective immediately, subject to TSX Venture Exchange approval.
David Da Rin is the President of Schunk Graphite Technology, LLC. He has years of experience in the carbon business which will be of tremendous value to Saint Jean Carbon. Paul Ogilvie CEO commented: "David is a real important step for the company as we work to attract the best and most knowledgeable people in the industry." Saint Jean reports that Dr. Don MacIntyre has stepped down from the Company's Board of Directors, effective immediately. Paul Ogilvie also commented: "On behalf of Saint Jean's management and Board of Directors, I would like to thank Dr. Don MacIntyre for his valuable service, contribution and support to the Company over the last three-and-a-half years and wish him well with his future endeavours."
Saint Jean announces that it settled an aggregate of $141,674.85 of debt that was owed to various arm's length consultants and for geological expenses through the issuance of 2,833,497 common shares ("Debt Shares") of Saint Jean at a deemed price of $0.05 per share (the "Transaction"). The Debt Shares to be issued are in reliance on certain prospectus and registration exemptions available under applicable securities legislation and are subject to a hold period of four months and one day in accordance with applicable securities legislation. As a result of the application for Debt Shares, Saint Jean will have 101,534,457 common shares issued and outstanding.
Saint Jean also announces that the Board of Directors granted an aggregate of 6,380,689 stock options to purchase common shares pursuant to its stock option plan to a total of 10 officers, directors and contractors of the company effective June 16, 2015. All of the stock options vest immediately and were granted at an exercise price of $0.05 per common share. The stock options expire on June 16, 2020.
About Schunk Graphite Technology, LLC
Since 1978, Schunk Graphite Technology, LLC (SGT) has been the Schunk Group's manufacturing and distribution company in the United States, providing world-class Schunk products to the North American market. SGT has a proven track record of providing high quality products, on-time deliveries, and competitive prices. Using state-of-the-art manufacturing practices, SGT produces and sells carbon, graphite, and complementary products for electrical, mechanical and thermal applications. For more information, please see www.schunkgraphite.com or www.schunk-group.com.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration company with graphite mining claims on five 100% Company owned properties located in the province of Quebec in Canada. The five properties include the Walker property, a past producing mine, the Wallingford property, the St. Jovite property, East Miller and Clot property. For information on Saint Jean's other properties and the latest news please go to the website: www.saintjeancarbon.com
On behalf of the Board of Directors
Paul Ogilvie, CEO and Director
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, 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 complete the Offering, use the proceeds of the Offering as working capital to fund the continued development of the Company's business, the Company's intention to complete the Divestitures and the intention to become a graphite procuring company.
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 Transaction, including regulatory and shareholder approvals, if necessary, 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 Transaction, the impact of general global economic conditions and the risk that they will deteriorate, industry conditions, including fluctuations in the price of supplies and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained, that activity in the lump or vein graphite business will not be at the level or of the nature anticipated, liabilities and risks inherent in Saint Jean's operations, technical problems, equipment failure and construction delay.
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 laws.
Contact
Saint Jean Carbon Inc.
Laurie McCarney
Director of Corporate Communications
(905) 844-1200
info@saintjeancarbon.com
www.saintjeancarbon.com