Saint Jean Carbon Announces $500,000 Flow-Through Placement
OAKVILLE, ONTARIO--(Marketwired - Dec. 16, 2015) -
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Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 10,000,000 Flow-Through units (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $500,000 (the "Offering"). Each Flow-Through Unit will consist of one (1) common share in the capital of the Corporation issued and one-half (1/2) warrant ("Warrant"). Each full Warrant will entitle the holder to purchase one common Share of the Corporation at an exercise price of $0.06 for a period of thirty-six (36) months from the closing of the Offering. Subject to customary conditions including receipt of all regulatory approvals, closing is anticipated to occur on or before December 17, 2015.
The Corporation intends to use the proceeds of this placement to advance the exploration of the Company's Walker, St. Jovite, Wallingford, East Miller and Clot properties.
All securities issued as part of the Offering shall be subject to a four month and one day hold period. The Company will pay a cash finder's fee equal to 9% of the gross proceeds raised under the Offering to an arm's length finder.
About Saint Jean
Saint Jean is a publicly traded carbon sciences company with interests in 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 and use the proceeds of the Offering as working capital to fund the continued development of the Company's business.
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 Offering, 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 Offering, the impact of general global economic conditions and the risk that they will deteriorate, industry conditions, 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 laws.