Saint Jean Completes Consolidation and Appoints New Director
OAKVILLE, Ontario, June 12, 2018 (GLOBE NEWSWIRE) -- With reference to its prior News Release dated May 31, 2018 and the Bulletin of the TSX Venture Exchange dated June 8, 2018, Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V:SJL) (OTCQB:TORVF) is pleased to announce that the Company has consolidated its Common Shares on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the “Share Consolidation”) effective June 12, 2018. Prior to the Share Consolidation, the Company had 249,120,130 Common Shares issued and outstanding. After giving effect to the Share Consolidation, the Company, subject to rounding, has approximately 62,280,032 Common Shares issued and outstanding. Letters of transmittal describing the process by which shareholders may obtain share certificates representing the consolidated Common Shares were mailed to registered shareholders on June 8, 2018.
Saint Jean also wishes to announce that Don MacIntyre has resigned from the Board of Directors effective today and this vacancy has been filled with the appointment of Anna Lentz, the Company’s current Chief Financial Officer, to Board of Directors. Saint Jean extends its thanks to Mr. MacIntyre for his efforts and wishes him all the best in his future endeavours. With the recent changes the Company now has 6 board members, 4 are independent.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: http://www.saintjeancarbon.com/.
On behalf of the Board of DirectorsSaint Jean Carbon Inc.Paul Ogilvie, CEO and Director
Information Contact :Email: email@example.com Tel: (905) 844-1200
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward‐looking statements, within the meaning of applicable securities legislation, concerning Saint Jean’s business and affairs. In certain cases, forward‐looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’ or similar expressions and includes suggestions of future outcomes, including statements about the number of Common Shares outstanding following the Share Consolidation. These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. These risks include, but are not limited to receiving acceptance from the TSX Venture Exchange for the Share Consolidation. Readers are cautioned not to place undue reliance on such forward‐looking statements. Forward‐looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.