Saint Jean Carbon Inc. (TSXV:SJL) plans to amend the terms of its previously announced private placement. The Company now intends to issue by way of a private placement $1,000,000 of additional equity.
As quoted in the press release:
Under the terms of the Unit Offering, the Company will issue up to 10,000,000 Units at a price of $0.10 per Unit (each a “Unit”). Each Unit will be comprised of one (1) Flow-Through Common Share at a price of $0.05 per share, one (1) Common Share at a price of $0.05 per share and one-half (0.5) of a Common Share Purchase Warrant (each whole Common Share Purchase Warrant a “Warrant”). Each whole Warrant will exercisable into one Common Share of the Company at a price of $0.10 for a period of eighteen (18) months from the closing of the Unit Offering.