OAKVILLE, Ontario, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (SJL.V) (TORVF) is pleased to announce the Company will expand the mill to allow for processing of a wide variety of raw materials used in lithium ion batteries, to meet demand of specialty raw material supply for tier two and smaller battery manufacturers. Material such as; Graphite, Cobalt, Manganese, Lithium, Aluminum, Nickel, etc. The expansion will be will be broken in to two phases 1) additional equipment to meet immediate demand and 2) further processing for other material that the Company expects may have demand in the coming year.
The raw materials needed in lithium batteries are becoming a race to see which of the mega corporations can and will secure large quantities of the very special materials. Companies like Volkswagen announced $45 billion dollars in raw material procurement last year. This situation is putting allot of pressure and rising costs on the smaller and specialized battery manufacturers. This demand has created the Company’s strategy of a new division to meet these needs as soon as possible. The new division will specialize in selling and processing of raw material to a fully finished state of application
Working with their customers: The Company has secured and will further secure different ore bodies rich in specific minerals. The ore bodies will be shipped to a location in central Ontario for storage and will be available for processing on a customer demand basis. Ideally the customer will be looking for a number of specialty minerals, that the company can supply as a balanced chemistry, with mine signature and repeatable quality results.
Paul Ogilvie, CEO, commented: “What appeared to be a big issue for the smaller manufacturers, now looks like a perfect solution that helps us greatly and will definitely provide a secure and high quality product for many years to our customers. Our abilities in our mill are ever expanding; this is a great opportunity to push a little further into the supply chain.”
The Company will secure ore bodies mostly from Northern Ontario from mining companies with 43-101 compliant reserves and either historical or current process flow analysis. With a number of mining companies in discussion and manufacturers with demand, the Company hopes that the results of this effort will be realized in the very near future.
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 :
Tel: (905) 844-1200
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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.