|By Marketwired .||
|January 15, 2014 10:00 AM EST||
OAKVILLE, ONTARIO -- (Marketwired) -- 01/15/14 -- Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE: SJL) has entered into a non-binding agreement with an arm's length party to acquire Minmet Carbons Inc. ("Minmet"), a private company, a supplier of raw materials to the steel, foundry and mining Industries since 1993. Saint Jean views this as an initial step to becoming a long-term supplier of Industrial Minerals. The company believes that having real revenues and profit will make Saint Jean an attractive junior mining company for investors as it moves forward with graphite production on its global properties. The Company intends to sign a definitive agreement with respect to the Minmet acquisition (the "Minmet Acquisition") shortly.
The CEO of Saint Jean Carbon, Mr. Paul Ogilvie stated: "We are extremely pleased to have the opportunity to bring the Minmet operations and its President, Mr. Chris Wood, together with Saint Jean Carbon. Chris brings a wealth of carbon industry and product knowledge to the table as well as an extremely valuable network of industry supply and customer contacts. Our business goal is to acquire more business in 2014 and with Minmet's historical year over year revenues of about $1.4 million and a sales forecast for of about $2 million for 2014, we would have an excellent head start on that objective. As noted, Mr Wood's 20+ years of experience in the industrial mineral sales is very important to us as we continue to acquire other business, and broaden our mineral offerings".
Mr. Wood also expressed his enthusiasm for the merger of the two companies: "This agreement represents an outstanding opportunity for both companies to leverage their respective strengths and build out new sources of revenue and growth. From my perspective the appeal has been the chance to combine the obvious synergies in terms of skills, access to capital, and infrastructure. I think the benefits of this combined horsepower will become an important factor in further distinguishing Saint Jean in the graphite and minerals markets".
The acquisition of Minmet will provide Saint Jean Carbon with significant access to multiple new global sources of and markets for both natural and synthetic graphite, as well as a wide range of other industrial materials. It also provides the Company with opportunities to generate near-term cashflow and increased exposure to the carbon market supply chain. The Company plans on acquiring a few other carbon businesses this year, with the goal of generating new and profitable raw material sales both directly and through a blend of material processing.
CEO Paul Ogilvie, further stated: "We are very hopeful, with a broadened offering of industrial minerals, as an example; synthetic graphite or lithium, we will be offering our client's more than just graphite as our existing properties come into production. Being able to expand these offerings will allow us to continue developing an increasingly strong relationship with our customers and identify a growing list of opportunities."
The Minmet acquisition terms contemplate an issuance of 500,000 (issued at $0.05 per share) shares upon signing of the term sheet, an issuance of 2,000,000 (to be issued at market) shares on closing (expected to be 60 days) and an additional 1,000,000 (to be issued at market) shares on the anniversary of the closing provided certain conditions are met. The Minmet Acquisition is subject to the approval of the TSX Venture Exchange. All securities issued shall be subject to a four month and one day hold period pursuant to applicable securities laws.
Minmet Metallurgical Inc. is a private Ontario corporation founded in 1993 by Chris Wood to supply raw materials to the steel industry. The Company was built on Mr. Wood's direct steel mill and supplier experience dating back to1980. The Company later expanded its customer base to include the supply of petcoke to the mining industry. The name was changed to Minmet Carbons Inc. to recognize the Company's focus on anthracite, metallurgical coke, ladle carbons and petcoke. Minmet helps large companies source strategic raw materials. Minmet utilizes its technical knowledge and global expertise to quickly qualify the best quality, price competitive and freight logical sources; once established as a supplier Minmet takes great care in making sure each shipment meets specifications and is shipped on time.
About Saint Jean
Saint Jean is a publicly traded junior mining exploration company with a number of mining claims. The Walker property consists of 4 claims covering the past mine and 11 claims covering interesting geological context for more graphite mineralization in the region around the deposit, which is located 40 km north-east of Ottawa. The Mount Copeland molybdenum deposit lies within metamorphic rocks flanking the southern margin of Frenchman Cap Dome, 32 kilometers northwest of Revelstoke, British Columbia (the "Mount Copeland Property"). The Fort-Eden copper property is comprised of 18 mineral tenures that total 2,828.6 hectares in area. The mineral claims are located 100 km west of Fort St. James, BC (the "Fort Eden Property"). The Red Bird deposit is comprised of three zones of molybdenum concentration referred to as the Main, Southeast and Southwest zones within a property totaling 1,836 ha (4,400 acres) and is located 133 km southwest of Burns Lake and 105 km north of Bella Coola (the "Red Bird Property"). The Company plans to divest (the "Divestitures") each of the Mount Copeland Property, the Fort Eden Property and the Red Bird Property through a sale or joint venture, thus allowing it to focus on building a graphite mining company. Additionally, Saint Jean expects to acquire the new lump graphite properties in Quebec (the "Clot, Wallingford and St. Jovite Acquisitions"), and the previously announced new lump graphite properties in Sri Lanka from Han Tal Graphite (Pvt) Ltd. (the "Han Acquisition" and together with the Minmet Acquisition and the Clot, Wallingford and St. Jovite and Acquisitions, the "Acquisitions") in furtherance of its new focus.
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 the Company's ability to complete Acquisitions and Divestitures and become a graphite producing company.
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 conditions for completion of the Acquisitions and the Divestitures, including regulatory and shareholder approvals, if necessary, will be met.
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 ability to complete the Acquisitions and Divestitures, and the future results of the Company which could cause actual results to differ materially from those expressed in these forward-looking statements including negotiation failure or delay, the impact of general global economic conditions 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, that activity in the lump or vein graphite business will not be at the level or of the nature anticipated, liabilities and risks inherent in Saint Jean's operations, technical problems, equipment failure and construction delay.
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.
Saint Jean Carbon Inc.
Director of Corporate Communications
(905) 844-1200 ext: 305
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
May. 6, 2015 03:00 PM EDT Reads: 718
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
May. 6, 2015 03:00 PM EDT Reads: 918
Zerto has announced the general availability of Zerto Virtual Replication 4.0 (ZVR 4.0). The company’s enterprise-class business continuity/disaster recovery (BC/DR) software is the first to protect, replicate, and migrate data between VMware vSphere and Microsoft Hyper-V hypervisors, as well as across private, hybrid and public cloud environments including Amazon Web Services (AWS). ZVR 4.0 also allows channel partners and cloud service providers to expand their offerings to grow revenues by pr...
May. 6, 2015 02:46 PM EDT Reads: 153
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around...
May. 6, 2015 02:45 PM EDT Reads: 1,028
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
May. 6, 2015 02:15 PM EDT Reads: 5,357
This talk focuses on the application of DevOps fundamentals to include network infrastructure. It draws from real deployment case studies on the extension of today's paradigms to address the challenges of the network infrastructures' ability to seamlessly and cohesively integrate into agile workflows. In this session at DevOps Summit, Arista Networks will focus on configuration management using automation with a nod to future work necessary to include telemetry and ephemeral state information....
May. 6, 2015 01:30 PM EDT Reads: 1,228
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
May. 6, 2015 12:15 PM EDT Reads: 5,861
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
May. 6, 2015 12:15 PM EDT Reads: 1,015
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
May. 6, 2015 12:00 PM EDT Reads: 5,199
Database apps on mobile devices shouldn't stop working when there's limited or no network connectivity. In his session at 16th Cloud Expo, Bradley Holt, a Developer Advocate for IBM Cloudant, will discuss how to bring data stored in a cloud database to the edge of the network (and back again), whenever an Internet connection is available. He will demonstrate techniques for replicating cloud databases with mobile devices in order to build offline-enabled mobile apps that can provide a better,...
May. 6, 2015 12:00 PM EDT Reads: 1,077
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
May. 6, 2015 12:00 PM EDT Reads: 4,522
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
May. 6, 2015 11:15 AM EDT Reads: 3,237
It's time to put the "Thing" back in IoT. Whether it’s drones, robots, self-driving cars, ... There are multiple incredible examples of the power of IoT nowadays that are shadowed by announcements of yet another twist on statistics, databases, .... Sorry, I meant, Big Data(TM), tiered storage(TM), complex systems(TM), smart nations(TM), .... In his session at WebRTC Summit, Dr Alex Gouaillard, CTO and Co-Founder of Temasys, will discuss the concrete, cool, examples of IoT already happening tod...
May. 6, 2015 11:15 AM EDT Reads: 743
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
May. 6, 2015 11:00 AM EDT Reads: 1,326
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
May. 6, 2015 11:00 AM EDT Reads: 4,450