Miller East comprises nine mineral claims covering 540 hectares in Quebec, while Page comprises one claim consisting 16 claim units, which cover 256 hectares within the Porcupine district of Ontario.
Under the deal, the company will issue 3,000,000 common shares at $0.05 per share as partial consideration for the Miller East and Page properties.
It will issue an additional 500,000 shares for the properties on the first anniversary of the closing if mining claims produce a graphite ore with a grade of 30% and quality of 90% Cg and 2,000,000 tons of graphite ore body.
Saint Jean Carbon will also spend up to $250,000 in exploration expenditures on the property.
The vendor will receive a 1% royalty on the production cost of the concentrate material.
