Saint Jean Carbon Completes Final Tranche of Private Placement

Saint Jean Carbon (TSXV:SJL) has completed the final tranche of its previously announced private placement of flow-through units for gross proceeds of $400,000. It has also completed a common unit offering for proceeds of $303,750.
As quoted in the press release:

The Company intends to use the proceeds of the Flow-Through Unit Offering on the Company’s exploration and development expenditures on its mineral properties located in Quebec and to incur eligible Canadian Exploration Expenses that qualify as Canadian exploration expenses and “flow-through mining expenditures” for purposes of the Income Tax Act (Canada) and which will be renounced in favour of the holders with an effective date of no later than December 31, 2016.
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.