UPDATE — Saint Jean Carbon Provides Operational Update for Solid Ultrabattery
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CALGARY, Alberta, June 15, 2021 (GLOBE NEWSWIRE) — Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce updates to its newly acquired Solid Ultrabattery subsidiary:
Battery Research and Development Center
The company has signed a lease for a 10,500 square foot facility at 590 Hanlon Drive in Guelph Ontario commencing July 15th, 2021. This new location will be home to Solid Ultrabattery’s new research and development facility. The company plans to build and test solid electrolyte batteries from this facility and has procured the necessary equipment for the first phase of prototype battery fabrication scheduled to commence this fall. Efforts are currently underway to source new battery test equipment which enables in-house validation at Solid Ultrabattery prior to formal regulatory testing. In addition, planning for the facility layout and battery research laboratory has commenced in conjunction with ARC Engineering who will provide consultation on regulatory approvals and safety.
The team at Saint Jean remains highly focused on development and commercialization of solid state lithium metal batteries consisting of solid electrolytes that exhibit high ionic conductivity. Solid Ultrabattery currently holds two key patents for solid electrolyte battery technology and is currently preparing further intellectual property submissions to ensure its proprietary methods and formulations are protected. This technology will continue to result in improved energy performance and safety in the next generation of lithium batteries to reach commercialization. Further information on our new facility can be found at www.subattery.com.
On behalf of the Board of Directors
Saint Jean Carbon Inc.
William Pfaffenberger, Chairman of the Board and President
Email: [email protected]
Tel: (250) 381-6181
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 press 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”.
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. 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. Such statements include statements with respect to: (i) completion of the Acquisition; (ii) the approval by the TSX-V of the Private Placement; (iii) completion of the Private Placement; and (iv) the Company’s intention to use the proceeds of the Private Placement to fund its working capital in connection with the Acquisition for the next six-month period. 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 legislation.