Saint Jean Carbon Inc.: Conversion of Convertible Debenture
13 Janeiro 2014 - 7:01PM
Marketwired
Saint Jean Carbon Inc.: Conversion of Convertible Debenture
OAKVILLE, ONTARIO--(Marketwired - Jan 13, 2014) - Saint Jean
Carbon Inc. (TSX-VENTURE:SJL) ("Saint Jean" or the "Corporation")
announces that the Company received a conversion notice with
respect to convertible debenture issued on August 30, 2013 (the
"Convertible Debenture"). The entire outstanding principal amount
of the Convertible Debenture in the amount of $93,750 has been
converted into 1,250,000 common shares at $0.075 per share in
accordance with the terms of the Convertible Debenture. In addition
to the issuance of shares, the Company confirms it has paid the
related accrued interest.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration
company with a number of mining claims. The Walker property
consists of 4 claims covering the past mine and 11 claims covering
interesting geological context for more graphite mineralization in
the region around the deposit, which is located 40 km north-east of
Ottawa. The Mount Copeland molybdenum deposit lies within
metamorphic rocks flanking the southern margin of Frenchman Cap
Dome, 32 kilometers northwest of Revelstoke, British Columbia (the
"Mount Copeland Property"). The Fort-Eden copper property is
comprised of 18 mineral tenures that total 2,828.6 hectares in
area. The mineral claims are located 100 km west of Fort St. James,
BC (the "Fort Eden Property"). The Red Bird deposit is comprised of
three zones of molybdenum concentration referred to as the Main,
Southeast and Southwest zones within a property totaling 1,836 ha
(4,400 acres) and is located 133 km southwest of Burns Lake and 105
km north of Bella Coola (the "Red Bird Property"). The Company
plans to divest (the "Divestitures") each of the Mount Copeland
Property, the Fort Eden Property and the Red Bird Property through
a sale or joint venture, thus allowing it to focus on building a
graphite mining company. Additionally, Saint Jean expects to
acquire the new lump graphite property in Quebec (the "Clot
Acquisition") and the previously announced new lump graphite
properties in Sri Lanka from Han Tal Graphite (Pvt) Ltd. (the "Han
Acquisition" and together with the Wallingford, Jovite and Clot
Acquisitions, the "Acquisitions") in furtherance of its new
focus.
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.
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.
Saint Jean Carbon Inc.Laurie McCarneyDirector of Corporate
Communications(905) 844-1200 ext:
305lmccarney@saintjeancarbon.comwww.saintjeancarbon.com
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