Saint Jean Carbon Inc. (TSXV:SJL) (‘SJL') signed a term sheet to acquire 95% stake in Lochaber Graphite Deposit, located in Southwestern Quebec from Great Lakes Graphite Inc. (TSXV:GLK) for CAD 0.53 million on January 25, 2018. A definitive agreement will be signed by both parties upon completion of a 10 day due diligence period. On May 3, 2018, a definitive agreement was signed whereby SJL a 100% ownership in the Lochaber Graphite Deposit located in Southwestern Quebec for CAD 0.52 million. SJL will issue 3 million common shares to Great Lakes Graphite, pay a 1.75% operating royalty on production, pay CAD 0.43 million over four years in four equal payments and enter into an offtake with Great Lakes Graphite and its affiliates to have the first right of refusal on up to 10,000 metric tonnes of graphite concentrate during the mine's production life. The transaction is subject to approval by shareholders and the TSX Venture. The sale of the assets was approved by the Board of Directors of Great Lakes Graphite. On July 5, 2018, the TSX Venture exchange conditionally accepted the transaction. Fogler's Canada LLP served as the legal advisor to Great Lakes Graphite on the deal.

Saint Jean Carbon Inc. (TSXV:SJL) completed the acquisition 100% ownership in the Lochaber Graphite Deposit located in Southwestern Quebec on July 19, 2018. As consideration, Saint Jean Carbon issued 0.75 million common shares (on a post consolidation basis) of Saint Jean Carbon, pay CAD 0.43 million four yearly installments of CAD 0.11 million with the first payment having been paid and the following three installments to be paid on May 7, 2019, May 7, 2020 and May 7, 2021, will pay a 1.75% operating royalty on production and entered into an offtake agreement with Great Lakes Graphite providing Great Lakes Graphite with a first right of refusal to purchase up to 10,000 metric tons per year for the life of the Lochaber mine.