OAKVILLE, Ontario, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) (OTCQB: TORVF) is pleased to announce the Company is ready to supply small production runs of complete anode and cathode chemistry, for high capacity and performance lithium-ion battery manufacturers. The opportunity to provide the blended raw materials, and a finished product, is due to customer enquiries and a shortage of materials for these smaller, specialized manufacturers.
Due to growing demand, the availability of raw materials has become a challenge for these battery manufacturers. This market shift has created an opportunity for the Company to process graphite for specialized anode material (purified, shaped and coated) and provide the blended cathode material. The largest battery manufacturers in the world are significantly reducing their overallotments to smaller manufacturers. This creates extreme downstream pressure on the smaller and specialized lithium ion battery manufacturers to obtain material.
The Company has started marketing and presenting solutions to battery manufacturers that have an immediate need, and a low enough volume of raw material that the Company can reasonably deliver. The Company will build on this demand and continue to secure material for processing. The Company in a press release announced (January 30th 2019) the mill expansion and the securing of mineralization for this purpose. This continues. The first material, other than graphite, planned for processing in the mill is Cobalt. The Company has access to the necessary amounts of minerals to produce a reasonable amount for small production run cathode material.
Paul Ogilvie, CEO, commented: “The shift from being a future specialty graphite producer to a downstream finished product and chemistry producer has been the biggest part of our strategic plan for many years. We are pleased to see our business be at the forefront of the new business models that are evolving all because of the move to electric storage. We feel strongly that electric vehicles are here to stay, and we are going to keep pushing so we are a big part of that growth.”
The Company will continue to build out capacity with demand and will also grow the product offerings as the demands and capabilities grow.
The Company advises that it is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there is increased uncertainty and there are multiple technical and economic risks of failure, which are associated with this production decision. These risks, among others, include areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts.
Christian Derosier, P.Geo., PhD., is the qualified person (QP) as defined in National Instrument 43-101 and, acting on behalf of Saint Jean Carbon, has reviewed and approved the technical content of this news release.
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
Information Contact :
Email: info@saintjeancarbon.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.
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’’. Such forward-looking statements include those with respect to the future payments required to be paid to the Vendor of the Lochaber mining property.
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. The forward-looking statements in this news release assume, inter alia, that the Company will be able to fund the required cash payments.
Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks which could affect Saint Jean’s future results and could cause the results to differ materially from those expressed in these forward-looking statements including closing failure or delay, the impact of general economic conditions in Canada and globally and the risk that they will deteriorate, industry conditions, including fluctuations in the price of supplies and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained and the liabilities and risks inherent in Saint Jean’s operations.
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.