Saint Jean Carbon Inc. (TSXV:SJL) entered into a non-binding agreement with a non-arm’s length party to acquire the Clot lump graphite property in Québec.
As quoted in the press release:
The Company intends to sign a definitive binding agreement with respect to the Clot Property shortly.
Saint Jean Carbon Inc. CEO, Paul Ogilvie, said:
The Clot property is on crown land and falls within the same geological and regional areas as our Walker, Wallingford and St. Jovite lump graphite properties and we are very pleased to have the opportunity to add these new claims to our inventory of holdings which will complete our lump acquisitions. This region has a long history of graphite mining and we are looking forward to taking all steps necessary to develop our properties into operating mines.