Saint Jean Carbon Closes $400,000 Financing

Saint Jean Carbon Inc. (TSXV:SJL) announced the placement of an aggregate of 8,000,000 Flow-Through Units at a price of $0.05 per Flow-Through Unit for gross proceeds of $400,000 as part of the previously announced private placement.

As quoted in the press release:

Each Flow-Through Unit issued as part of the Offering was 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 is exercisable into one Common Share of the Company at a price of $0.10 for a period of eighteen (18) months from February 26, 2014. The Company previously paid an arm’s length finder a finder’s fee in the amount of $32,000, a $10,000 due diligence fee and issued 320,000 non-transferrable Broker Warrants. Each Broker Warrant is exercisable into one (1) Common Share of the Company at an exercise price of $0.08 per Common Share for a period of eighteen (18) months from February 26, 2014.

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