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  • Saint Jean Carbon (SJL) has received approval from the TSXV for its acquisition of Solid Ultrabattery
  • The company will fund the purchase by issuing 22 million common shares at C$0.06 per share for a total of $1,320,000
  • Solid Ultrabattery is a private Ontario company involved in the research and development of solid state batteries
  • The acquisition is conditional on Saint Jean completing a non-brokered private placement for gross proceeds of at least $600,000
  • Dr. Zhongwei Chen, founder of Solid Ultrabattery, will be joining Saint Jean’s Board of Directors
  • Saint Jean is a carbon science company with interests in energy storage, green energy creation and green mining methods
  • Saint Jean Carbon (SJL) is currently trading flat at $0.125 per share

Saint Jean Carbon (SJL) has received approval from the TSXV for its acquisition of Solid Ultrabattery.

The company will purchase all of Solid Ultrabattery’s issued and outstanding shares from two arm’s length vendors.

Saint Jean will fund the purchase by issuing 22 million common shares at C$0.06 per share for a total of $1,320,000.

The acquisition is conditional on Saint Jean completing a non-brokered private placement for gross proceeds of at least $600,000.

The private placement would serve as working capital in connection with the acquisition over the next six months. 

Solid Ultrabattery is a private Ontario company involved in the research and development of solid state batteries.

Dr. Zhongwei Chen, Canada Research Chair at the University of Waterloo, is a leading researcher in solid state battery technology as well as the founder of Solid Ultrabattery.

Dr. Chen will be joining Saint Jean Carbon’s Board of Directors and will continue to lead research and development efforts at Solid Ultrabattery. 

Saint Jean Carbon and Dr. Chen are currently collaborating on a prototype battery R&D facility near the Waterloo region.

Saint Jean is a carbon science company with interests in energy storage, green energy creation and green mining methods.

Saint Jean Carbon (SJL) is currently trading flat at $0.125 per share as of 9:49 am ET.

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