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CALGARY, Alberta, Might 25, 2021 (GLOBE NEWSWIRE) — Saint Jean Carbon Inc. (“Saint Jean” or the “Firm”) (TSX-V: SJL) is happy to announce that it has closed its books with respect to the non-public placement introduced on Might 4, 2021 (the “Providing”).
The Firm raised a complete of $875,000 by issuance of seven,000,000 models (“Frequent Items”) at a worth of $0.125 per Frequent Unit.
Every Frequent Unit consisted of 1 (1) frequent share within the capital of the Firm (“Frequent Share”) and one-half (1/2) frequent share buy warrant (every a “Warrant”). Every entire Warrant entitled the holder to accumulate one (1) extra Frequent Share at an train worth of $0.25 per Frequent Share for a interval of 24 months from the date of issuance.
With regards to its prior information releases dated February 10, 2021, March 12, 2021, March 16, 2021, April 8, 2021 and April 30, 2021, the Firm intends to make use of $600,000 of the proceeds of the Providing to fund the primary 6 months of its working capital obligations assuming the profitable closing of the acquisition of Stable Ultrabattery Inc. (the “Acquisition”). The stability of the proceeds with be used to protect the Firm’s present operations and for basic company and administrative functions.
Though the Firm intends to make use of the proceeds of the Providing as described above, the precise allocation of web proceeds could fluctuate from the makes use of set forth above, relying on future operations or unexpected occasions or alternatives.
All securities issued as a part of the Providing will likely be topic to a 4 month and someday maintain interval.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science firm, with particular pursuits in power storage and inexperienced power creation and inexperienced mining strategies, with holdings in mining claims within the province of British Columbia in Canada. For the most recent data on Saint Jean’s properties and information please confer with the web site: https://www.saintjeancarbon.com/
On behalf of the Board of Administrators
Saint Jean Carbon Inc.
William Pfaffenberger, Chairman of the Board, CEO and President
Info Contact:
E-mail: information@saintjeancarbon.com
Tel: (250) 381-6181
Neither TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
FORWARD LOOKING STATEMENTS: This press launch comprises forward-looking statements, throughout the which means of relevant securities laws, regarding Saint Jean’s enterprise and affairs. In sure instances, forward-looking statements might be recognized by way of phrases equivalent to ‘‘plans’’, ‘‘expects’’ or ‘‘doesn’t count on’’, “intends” ‘‘funds’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘anticipates’’ or variations of such phrases and phrases or state that sure actions, occasions or outcomes ‘‘could’’, ‘‘might’’, ‘‘would’’, ‘‘would possibly’’ or ‘‘will likely be taken’’, ‘‘happen’’ or ‘‘be achieved’’.
These forward-looking statements are based mostly on present expectations, and are naturally topic to uncertainty and adjustments in circumstances which will trigger precise outcomes to vary materially. Though Saint Jean believes that the expectations represented in such forward-looking statements are affordable, there might be no assurance that these expectations will show to be appropriate. Such statements embrace statements with respect to: (i) the ultimate approval by the TSX Enterprise Trade of the Providing; (ii) the Firm’s intention to make use of a portion of the proceeds for working capital post-Acquisition; (iii) the idea of the profitable completion of the Acquisition and (iv) the Firm’s intention to make use of the proceeds of the Providing for working prices and dealing capital to fund the continued improvement of the Firm’s enterprise. Statements of previous efficiency shouldn’t be construed as a sign of future efficiency. Ahead-looking statements contain vital dangers and uncertainties, shouldn’t be learn as ensures of future efficiency or outcomes, and won’t essentially be correct indications of whether or not or not such outcomes will likely be achieved. Quite a lot of components, together with these mentioned above, might trigger precise outcomes to vary materially from the outcomes mentioned within the forward-looking statements. Any such forward-looking statements are expressly certified of their entirety by this cautionary assertion.
The entire forward-looking statements made on this press launch are certified by these cautionary statements. Readers are cautioned to not place undue reliance on such forward-looking statements. Ahead-looking data is offered as of the date of this press launch, and Saint Jean assumes no obligation to replace or revise them to mirror new occasions or circumstances, besides as could also be required below relevant securities laws.
