Saint Jean Carbon Closes First Tranche of Private Placement

Saint Jean Carbon (TSXV:SJL) has closed the first tranche of its previously announced private placement for gross proceeds of $287,500.
As quoted in the press release:

Each Common Unit consists of one (1) common share in the capital of the Company (“Common Share“) at a price of $0.05 per Common Share and one (1) common share purchase warrant (“Warrant“). Each Warrant entitles the holder to acquire one (1) additional Common Share at an exercise price of $0.06 per Common Share for a period of 36 months from the date of issuance.
In connection with the closing of the first tranche of the Common Unit Offering, the Company paid a cash finder’s fee in the amount of $18,000 to one arm’s length finder. In addition, the Company issued options entitling two (2) arm’s length finders to each purchase 180,000 Common Units at a price of $0.05 per Common Unit.
The Company intends to use the proceeds of the Common Unit Offering for general corporate and administrative purposes.

Click here for the full press release.