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Saint Jean Carbon Closes Oversubscribed Private Placement
October 5, 2017, Oakville, ON, Canada – Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce that is has closed the private placement announced on September 26, 2017 (the “Offering”). The Offering was oversubscribed by $20,000, which resulted in the Company raising an aggregate of $520,000. 10,400,000 units (“Common Units”) were issued at a price of $0.05 per Common Unit. Each Common Unit consists of one (1) common share in the capital of the Company and one (1) common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to acquire one (1) additional common share in the capital of the Company (each a “Warrant Share”) at an exercise price of $0.055 per Warrant Share for a period of 24 months from the date of issuance.
In connection with the closing of the Offering, the Company paid an aggregate cash fee in the amount of $29,400 to arm’s length finders.
The Company intends to use the proceeds of the Offering to fund the continued development of the Company’s business and for general corporate and administrative purposes.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: http://www.saintjeancarbon.com/
On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Director
Tel: (905) 844-1200
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.