Saint Jean Carbon Receives Conditional Approval Saint Jean Carbon Receives Conditional Approval For Acquisition of Solid Ultrabattery
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CALGARY, Alberta, April 08, 2021 (GLOBE NEWSWIRE) -- With reference to its prior news release dated February 10, 2021, March 12, 2021 and March 16, 2021, Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the “TSX-V”) for the purchase from 2 arm’s length vendors of all of the issued and outstanding shares of Solid Ultrabattery Inc. (“SUB”), a private Ontario company involved in the research and development of solid state batteries (the “Acquisition”). Saint Jean intends to fund the purchase of all of the issued and outstanding shares of SUB by issuing 22 million common shares in the capital of the Company (the “Common Shares”) at a price of $0.06 per Common Share for a deemed aggregate purchase price of CAD $1,320,000.
The Company has provided the supporting documentation required by the TSX-V with respect to the Acquisition. Final approval of the Acquisition remains subject to TSX-V’s review of the documentation. The Company will provide a further update on the Acquisition once the TSX-V has completed its review of the documentation.
The trading in the Common Shares of the Company will resume trading on April 9, 2021.
We invite you to visit our website at saintjeancarbon.com. There, you can access the new website of Solid Ultrabattery.
Dr. Zhongwei Chen, Canada Research Chair at the University of Waterloo, has spent the past five years developing a solid state battery which requires no anode. He has made coin-cell batteries and is now producing prototype batteries in preparation to installing a battery line later this year. The goal is to produce a battery which can be sold commercially.
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 mining methods, with holdings in mining claims in the province of British Columbia 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