Saint Jean Carbon Closes Acquisition of the Clot Lump Graphite Property
February 2, 2015 (Source: Marketwired) — Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX VENTURE:SJL) is pleased to announce the TSX Venture Exchange has accepted for filing documentation pursuant to a Mining Claims Purchase & Transfer Agreement dated March 11, 2014 (the “Agreement”) between the Company and a Non-Arms Length Party (the “Vendor”) whereby the Company has acquired certain mining claims in the Province of Quebec known as the Clot mining claims (the “Clot Property”), located approximately 150 km north-west of Montreal, from the Vendor. In consideration, the Company will issue a total of 4,500,000 common shares (“Shares”) at a deemed price of $0.05 per Share, of which 3,500,000 will be issued upon closing and $2,500 cash.
The Clot Property
The property is located in southern Québec, 10 kilometres north-west of Mont-Tremblant and approximately 150 km north-west of Montreal. The Clot Property is made up of 5 established claims and 3 claims under request for a total area of more than 297.4 hectares. The claims are located in highly metamorphosed rocks which host a geological contact between a granitic intrusive and marbles and quartzites, two metasedimentary units of the Grenville geological Province. This represents a favorable geological context, which is known to host graphite deposits. The Company therefore believes the site has good potential for graphite mineralization similar to historic mining operations that occurred in the area. For more information and history on the Clot property please see press releases dated January 9, 2014 and March 27, 2014.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration company with a number of graphite mining claims on four 100% owned properties located in the province of Quebec in Canada. The four properties include the Walker property, a past producing mine, the Wallingford property, the St. Jovite property and East Miller. The Company also holds the Page graphite property in Ontario. The Company is led by a management team with in-depth experience in the graphite sector. For information on Saint Jean’s other properties and the latest news please go to the website: www.saintjeancarbon.com.
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.
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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 the Company’s ability to complete Acquisitions and Divestitures and become a graphite producing company.
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.
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 Acquisitions and Divestitures, and the future results of the Company which could cause actual results to differ materially from those expressed in these forward-looking statements including negotiation failure or delay, the impact of general global economic conditions and the risk that they will deteriorate, industry conditions, including fluctuations in the price of supplies and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained, that activity in the lump or vein graphite business will not be at the level or of the nature anticipated, liabilities and risks inherent in Saint Jean’s operations, technical problems, equipment failure and construction delay.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>