Saint Jean Carbon Announces $500,000 Private Placement

Saint Jean Carbon (TSXV:SJL) has announced it intends to complete a non-brokered private placement financing of up to 10 million units at $0.05 per unit for gross proceeds of $500,000.
As quoted in the press release:

Each Common Unit will consist of one (1) common share in the capital of the Company and one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to acquire one (1) additional common share in the capital of the Company (each a “Warrant Share”) at an exercise price of $0.055 per Warrant Share for a period of 24 months from the date of issuance.

Closing of the Offering is subject to customary conditions, including receipt of all regulatory approvals, and is anticipated to occur on October 5, 2017. All securities issued as part of the Offering will be subject to a four month and one day hold period.

The Company intends to use the proceeds of the Offering for general corporate and administrative purposes.

The Company intends to pay a cash finder’s fee to an arm’s length finder (the “Finder”) of up to 7% of the gross proceeds raised under the Offering from purchasers introduced to the Company by the Finder.

Click here to read the full press release.