May 17, 2017
Saint Jean Carbon Inc (C:SJL)
Shares Issued 215,020,130
Last Close 5/15/2017 $0.055
Mr. Paul Ogilvie reports
With reference to the previous press release dated May 16, 2017, Saint Jean Carbon Inc. has placed an aggregate of 6.55 million units at a price of five cents per common unit for gross proceeds of $327,500. Each common unit consists of one common share in the capital of the company at a price of five cents per common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of 5.5 cents per common share for a period of 48 months from the date of issuance.
In connection with the closing of the first tranche of the common unit offering, the company paid a cash finder's fee in the amount of $27,000 to one arm's-length finder. In addition, the company issued 270,000 non-transferable warrants to the finder entitling the holder to acquire one additional common share at an exercise price of 5.5 cents per common share for a period of 48 months from the date of issuance.
All securities issued as part of the common unit 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 interest in graphite mining claims on the 100-per-cent 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 Buckingham property, and the East Miller and Clot properties.
We seek Safe Harbor.
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