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.
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 Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Director
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.
FORWARD LOOKING STATEMENTS: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’’, “intends” ‘‘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’’.
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. Such forward-looking statements include those with respect to the Company’s intention to enter into the proposed offtake agreement (the “Proposed Agreement”), the Company’s ability to fund the purchases of the raw materials required under the terms of theProposed Agreement and the Company’s ability to source the volume of raw materials required to satisfy the requirements under the terms of the Proposed Agreement.
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. There are risks which could affect Saint Jean’s ability to satisfy the requirements under the Proposed Agreement, and the future results of the Company which could cause actual results to differ materially from those expressed in these forward-looking statements including negotiation failure or delay, the impact of general global economic conditions and the risk that they will deteriorate, industry conditions, including fluctuations in the price of raw materials and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained, liabilities and risks inherent in Saint Jean’s operations, technical problems and equipment failure.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. 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.