Saint Jean Carbon and Curtiss Motorcycles Continue Positive Momentum
OAKVILLE, Ontario, Feb. 13, 2019 (GLOBE NEWSWIRE) — Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) (OTCQB: TORVF) is pleased to announce that the Curtiss Motorcycles (“Curtis”) (OTC: CMOT) collaboration announced on November 9th 2018 is on-track and continues to move full steam ahead.
Curtiss Motorcycles commissioned Saint Jean Carbon to provide design and engineering expertise for its electric motorcycles’ functional components including electric motor, controller, charger, inverter, and battery packs. The luxury motorcycle brand is pleased with the team’s progress and very confident that the final prototypes will be ready for their debut this Spring. As the automotive world continues to move toward battery electric propulsion, Curtiss Motorcycles is positioned to be the leader of the premium electric motorcycle market.
Saint Jean Carbon, CEO, Paul Ogilvie, commented: “As we develop the cutting-edge technology powering the revolutionary shift toward an all-electric motoring future, we’re broadening our relationships globally with the necessary expertise to help us serve this fast-growing market. Our collaboration with Curtiss lends itself to our vision of bringing innovative raw materials right through to finished products.”
Curtiss Motorcycles, CEO, Matt Chambers, commented: “We are pleased with the Saint Jean Carbon team, their ingenuity, and their shared drive to disrupt the electric motorcycle space.”
Curtiss’s line of electric motorcycles are expected to be launched in May 2019, and the company will continue to publish updates as they become available. The terms of the agreement are confidential. At the Effective Date, Curtis shall issue to the Company and/or to the Company’s partners and suppliers Five Million (5,000,000) unvested shares of Curtis Common Stock (the “Shares”) (with a deemed value of $0.20 USD equaling a total of $1,000,000 USD) which shall fully vest upon the occurrence, to the written satisfaction of the Company, of the following: The project is broken down into four project milestones that represent the effective date; 1) design 2) engineering 3) prototype completion 4) delivery of final two prototypes. Initially, the company will supply four finished prototype power systems in the spring of 2019. All intellectual property developed during the design and build will be the property of Curtiss. A number of other partners will work on the project under the management of the company. The agreement is for one year, however, it is expected that the project will complete in the spring of 2019.
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
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.