OAKVILLE, Ontario, June 27, 2019 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) (OTCQB: TORVF) is pleased to announce that the Company over the next 12 to 18 months will spin off five of the Company’s internal technology projects to new companies that are fully independent of Saint Jean. Every shareholder will receive a one for one share in each of the new companies by way of dividend from the new companies. Each transaction will be subject to regulatory approval.
This strategy has been evolving within the Company now for three years. The demand on the human resources is being pushed to a point where it makes sense to build a team for each company that are experts in their field that can provide the necessary guidance and growth plans. The five companies to be spun out of Saint Jean are;
(1) High Speed Graphene Production and product development. Specifically for polymers and epoxies that can be used in a multitude of industries worldwide. The opportunity here is for the new company to focus on the significant demands from the graphene markets and be a part of all the new technologies that are expected to rollout over the coming years.
(2) Cathode Chemistry Production for lithium ion batteries. Specifically for the high end North American battery manufacturers of specialty batteries for a number of growing industries. The opportunity here is for the new company to not only provide today's demands but work on the forefront of all the new cathode chemistries being developed for the electrical vehicle industry.
(3) Salt Water Battery Production. The plan to match energy density one to one with lithium ion batteries is becoming closer to reality. The new company will work to finish developing batteries for stationary applications and mobile applications secondarily. The opportunity here is for the new company to solve the big environmental issue with lithium batteries by creating more economical and very environmentally friendly energy storage.
(4) Glucose Monitoring with the use of graphene. The company will take the 6 year long project and finish the clinical trials and bring the product to market. The further opportunity is to allow the system to monitor all types of other applications, concrete stress, and steel structure stress to name a few. The opportunity here is for the new company to be able to apply the technology application to almost any product/material that needs to be monitored at the atomic level, basically recognizing structural disaster before it happens.
(5) Energy Creation through the use of carbon graphene nano dots. The research and lab work over the last three years shows promise to greatly improve the photovoltaic value of solar energy throughput. Energy storage is important, creating clean green energy is even more important. The opportunity here is for the new company to be a part of the global goal to reduce carbon emissions by developing super-efficient solar energy capture.
The strategy will allow Saint Jean to continue to focus on anode raw materials (graphite) and the production of spherically carbon coated anode specific materials and the eventual full line of production of the actual finished anodes. This focus has been the main market push for the corporation for many years with the in-house capabilities of both equipment and human resources; the Company believes this strategy can be accelerated.
V-Bond Lee, CCO, commented: “We are at the beginning of a wave of graphene based products that are starting to commercialize. This arrangement will enable each entity to develop the critical skills and partnerships necessary for these products to be successfully introduced to the market.”
Paul Ogilvie, CEO, commented: “We feel strongly that the strategy will be a great benefit to the shareholders and also provide focus on different industries. It only makes sense to dividend the companies out; give each project their opportunity to grow.”
In the coming months the Company will announce each of the companies individually, with their product brands, website and management teams.
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 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’’. 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.