The TSX Venture Exchange has conditionally accepted documentation pursuant a Share Purchase Agreement dated October 23, 2013, between Saint Jean Carbon and Han Tal Holding (Private) Limited. The agreement relates to the acquisition of Sri Lankan lump graphite mining claims.
Saint Jean Carbon’s CEO Paul Ogilvie says, “The acquisition has taken longer than usual, but now we have the necessary documentation in place and the approval of the Exchange to formally close the transaction.
“We look forward to getting to work on the new property; the first order of business will be an NI 43-101 report, which we are hopeful can be completed in the coming months. These are tough times in the junior mining space, but we are pleased we can continue to build our company in spite of the overall downturn in the sector.”
Saint Jean is a publicly traded junior mining exploration company with a number of graphite mining claims on three 100%-owned properties in the province of Quebec in Canada. The three properties include the Walker property, a past producing mine, the Wallingford property and the St Jovite property. The company is led by a management team with in-depth experience in the graphite sector.