Saint Jean Carbon (TSXV:SJL) has closed the previously announced non-brokered private placement of 6,000,000 units at a price of $0.05 per Unit for gross proceeds of $300,000.
As quoted in the press release:
Each Unit consists of one (1) common share (“Common Share”) in the capital of the Company and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of two (2) years from the closing of the Offering at an exercise price of $0.05. The net proceeds from the Offering will be used by the Company for working capital and general corporate purposes. Management of the Corporation subscribed for more than 25% of the placement.