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CALGARY, Alberta, Might 04, 2021 (GLOBE NEWSWIRE) — Saint Jean Carbon Inc. (“Saint Jean” or the “Firm”) (TSX-V: SJL) is happy to announce that it intends to finish a non-brokered non-public placement financing of as much as 7,000,000 models (the “Models”) at a worth of $0.125 per Unit for gross proceeds of as much as $875,000 (the “Providing”). Every Unit will consist of 1 (1) frequent share within the capital of the Firm (the “Frequent Share”) and one-half (1/2) frequent share buy warrant (every a “Warrant”). Every entire Warrant will entitle the holder to accumulate one (1) further Frequent Share within the capital of the Firm (every a “Warrant Share”) at an train worth of $0.25 per Warrant Share for a interval of 24 months from the date of issuance. Closing of the Providing is topic to customary situations and regulatory approvals together with the approval of the TSX Enterprise Alternate (“Alternate”). The Firm intends to shut the Providing as quickly as practicable.
In reference to the Providing, the Firm intends to pay a money finder’s price, to sure arm’s size finders (every a “Finder”), equal to eight% of the gross proceeds raised beneath the Providing from purchasers launched to the Firm by every Finder.
Just about 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 steadiness of the proceeds with be used to protect the Firm’s present operations and for normal 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 range 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 shall be topic to a 4 month and sooner or later maintain interval.
The Firm can be happy to announce that additional to its information launch dated Might 3, 2021, it has obtained Alternate approval to increase the train interval of a complete of 11,050,000 frequent share buy warrants (the “Warrants”) issued pursuant to a personal placement introduced on Might 16, 2017 and closed in two tranches on Might 17, 2017 and Might 29, 2017. Every Warrant entitled the holder to accumulate one (1) frequent share within the capital of the Firm (the “Frequent Share”) at an train worth of $0.055 per Frequent Share. Efficient June 12, 2018, the Firm accomplished a consolidation of its Frequent Shares on a Four for 1 foundation pursuant to which the train worth mechanically elevated to $0.22 per Frequent Share and variety of Shares the Warrants had been exercisable into had been decreased to an combination of two,762,500 Frequent Shares. The expiry dates for the Warrants have been prolonged by one 12 months to Might 17, 2022 for six,550,000 Warrants and Might 29, 2022 for 4,500,000 Warrants. All different phrases and situations of the Warrants stay unchanged.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science firm, with particular pursuits in vitality storage and inexperienced vitality creation and inexperienced mining strategies, with holdings in mining claims within the province of British Columbia in Canada. For the most recent info on Saint Jean’s properties and information please check with the web site: http://www.saintjeancarbon.com/
On behalf of the Board of Administrators
Saint Jean Carbon Inc.
William Pfaffenberger, Chairman of the Board, CEO and President
Tel: (250) 381-6181
Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
FORWARD LOOKING STATEMENTS: This press launch accommodates forward-looking statements, throughout the that means of relevant securities laws, regarding Saint Jean’s enterprise and affairs. In sure circumstances, forward-looking statements may be recognized by way of phrases similar to ‘‘plans’’, ‘‘expects’’ or ‘‘doesn’t count on’’, “intends” ‘‘finances’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such phrases and phrases or state that sure actions, occasions or outcomes ‘‘could’’, ‘‘might’’, ‘‘would’’, ‘‘would possibly’’ or ‘‘shall be taken’’, ‘‘happen’’ or ‘‘be achieved’’.
These forward-looking statements are based mostly on present expectations, and are naturally topic to uncertainty and modifications in circumstances that will trigger precise outcomes to vary materially. Though Saint Jean believes that the expectations represented in such forward-looking statements are cheap, there may be no assurance that these expectations will show to be right. Such statements embody statements with respect to: (i) the approval by the Alternate of the Providing; (ii) completion of the Providing; (iii) the Firm’s intention to make use of a portion of the proceeds for working capital post-Acquisition; (iv) the belief of the profitable completion of the Acquisition and (v) 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 important 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 shall be achieved. A lot of elements, 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 info is supplied 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 beneath relevant securities laws.