Saint Jean Carbon Inc. (TSXV:SJL) has amended the terms of its previously announced private placement. The Company intends to issue, by way of a private placement, $1,000,000 of additional equity.
As quoted in the press release:
The Company advises that, subject to regulatory approval, it intends to issue by way of a private placement $1,000,000 of additional equity (the “Offering”). Under the terms of the Offering, the Company will issue up to 10,000,000 Common Units at a price of $0.05 per Common Unit and up to 10,000,000 Flow-Through Units at a price of $0.05 per Flow-Through Unit. Each Common Unit will be comprised of 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 Flow-Through Unit will be comprised of one (1) Flow-Through Common Share at a price of $0.05 per share and one-half (0.5) of 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.