Following the transaction, the Saint Jean Carbon issued 1,000,000 shares as partial consideration for the Wallingford property as well as 1,000,000 shares as partial consideration for the Saint Jovite property, at a deem value of $0.06 per share.
Located 10km north of Buckingham village in the Central Metasedimentary Belt of the Grenville geological province, the Wallingford property comprises the historic Wallingford-Buckingham mine and a feldspar and quartz pegmatite dyke, which cross cuts a sillimanite-garnet gneiss.
The Saint Jovite property, situated 8.5km south-south-east of the village of Brebeuf in the Laurentian region, approximately 153km north-west of Montreal, consists of a vein type deposit with a most important pegmatitic vein measuring 30m.
