Volt Carbon Technologies Inc (TORVF)

[No1Uknow]

SAINT JEAN CARBON PROVIDES UPDATE REGARDING TRANSACTION WITH SOLID ULTRABATTERYMarch 12, 2021, Calgary, Alberta, Canada – With reference to its prior news release dated February 10, 2021, Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce that it is close to signing a definitive Share Exchange Agreement (the “Agreement”) dated March 9, 2021 with 2 arm’s length vendors to purchase all of the issued and outstanding shares of Solid Ultrabattery Inc. (“SUB”), a private Ontario company involved in the research and development of solid state batteries (the “Acquisition”). The terms of the Acquisition have been amended slightly in that Saint Jean intends to fund the purchase of all of the issued and outstanding shares of SUB by issuing 21 million common shares in the capital of the Company (the “Common Shares”), instead of the previously announced 20 million Common Shares, at a price of $0.06 per Common Shares, which is within the allowable discount permitted by the Policies of the TSX Venture Exchange (“TSX-V”), for a deemed aggregate purchase price of CAD $1,260,000. The proposed arm’s length Acquisition remains subject to the approval of the TSX-V.