Earlier called as Torch River Resources, Saint Jean Carbon has entered into an agreement to acquire the Walker mine in May 2013 and received final approval of the TSX Venture Exchange in August last year.
Under the deal, the company already issued 5,500,000 of its shares to the vendor at $0.05 per share, a $5,000 payment on signing of the term sheet, a $45,000 payment on 30 August 2013.
The latest issuance of 5,000,000 shares comes on completion of the first anniversary on closing of the transaction.
Located 8km northwest of Buckingham, Quebec, the Walker property is now made of 19 claims, for a total area of 1,142.55 hectares. It includes the Walker mine, a past graphite producer with about 816 tons of flaky and lump graphite extracted between 1876 and 1906.
