OAKVILLE, Ontario, March 03, 2017 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V:SJL) (OTCQB:TORVF), a carbon science company engaged in the design and build of green energy storage, green energy creation and green re-creation through the use of carbon materials. The Company is pleased to clarify certain information in the press release dated February 28th, 2017 at the request, and pursuant to the guidance, of the TSX Venture Exchange.
The Company has received a purchase order from Panasonic Corporation to supply graphite anode material to their manufacturing facility. While the size and value of the order is nominal, both on its own and in comparison to the anticipated monthly orders under the provisions of the proposed formal offtake agreement, the order is significant as it marks the first order for material that has been re-engineered by the Company . Although the offtake agreement has not been signed at this time, the supply of the re-engineered material pursuant to the order is based upon the procedures and timelines contained in the proposed offtake agreement. The first order is anticipated to be delivered within 90 days from February 24th the date of the purchase order. The raw material is being re-engineered by the Company prior to its delivery; however, the supply is being out sourced as the Company’s properties are not currently in production.The Company confirms that it has both the financial resources and access to the raw materials necessary to complete the first order. Both companies are working to finalize the proposed offtake agreement as soon as possible.
The Company has received numerous requests for information related to amount of material per month, per year, how many years, how much the material is going to sell for, etc. At this time, that information is confidential. If at some point the Company receives authorization to release the information from the customer, the company will share the details.