Saint Jean Carbon Closes Acquisition on the Miller East and the Page Graphite Properties
December 18, 2014 (Source: Marketwired) — Saint Jean Carbon Inc. (“Saint Jean”, the “Company” or “We”) (TSX VENTURE:SJL) is pleased to announce is pleased to announce that it has closed an arm’s length transaction to acquire the 100% interest in two properties (“Transaction”), the Miller East and Page Properties.
On closing, the Company issued 3,000,000 common shares as partial consideration for the Miller East and Page Properties at a deemed value of $0.05 per share. The Company is required to issue an additional 500,000 shares for Miller East and Page Properties on the first anniversary date of the Closing, provided always that the Mining Claims produce a graphite ore body with a grade of 30% and quality of 90% Cg as well as a graphite ore body quantity of 2,000,000 metric tonnes and after the Company has made up to $250,000 in exploration expenditures on the property to verify same. The vendor will also retain a Royalty of one percent (1%) on the Production Cost of the Concentrate Material. All securities issued will be subject to a hold period of four months and one day pursuant to applicable security laws.
The first property, Miller East, comprises 9 (nine) mineral claims covering approximately 540 hectares located in Quebec adjacent to the east of Canada Carbon Inc.’s historic Miller Graphite Project and in the vicinity of Caribou King Resources Ltd Miller East. The second property, Page, comprises of one (1) claim number consisting of 16 claim units comprising 256 hectares located within the Porcupine District of Central Ontario, adjoining the Albany Graphite Deposit that is presently under advanced exploration by Zenyatta Ventures Ltd.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration company with a number of graphite mining claims on three 100% owned properties of the Company located in the province of Quebec in Canada. The three properties include the Walker property, a past producing mine, the Wallingford property and the St. Jovite property. 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>