The intent is to sell the entire 10,000 tonnes of graphite Saint Jean Carbon Announces Appointment of Interim CFO
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OAKVILLE, Ontario, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) announces the resignation of Anna Lentz as Chief Financial Officer and Corporate Secretary of the Company, effective October 27, 2020. Ms. Lentz was appointed Chief Financial Officer and Corporate Secretary on April 30, 2018.
The Company has commenced a search for Ms. Lentz’s replacement as CFO. Ms. Lentz will continue to provide day-to-day accounting support during this period and Dr. William Pfaffenberger, Chairman of the Board and President, has been appointed Interim CFO of the Company until a successor to Ms. Lentz is determined.
The Company wishes to elaborate on its offtake agreement with Ameca (September 30, 2020). Production in Sri Lanka will be delayed to late 2021 or early 2022. Saint Jean intends to pre-sell at least 7500 tonnes of the highest quality graphite in the world, verified in Saint Jean’s R&D facility, to a third party and never take physical possession of the material. Ameca and Saint Jean are in the process of agreeing on a formula of profit sharing on all sales. The intent is to sell the entire 10,000 tonnes of graphite under our agreement with Ameca. Ameca’s planned initial production is 15,000 tonnes per year.
About Saint Jean
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 claims in the province of Quebec in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: https://www.saintjeancarbon.com/
On behalf of the Board of Directors
Saint Jean Carbon Inc.
William Pfaffenberger, Chairman of the Board and President
Information Contact:
Email: info@saintjeancarbon.com
Tel: (250) 381-6181
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