SHG-V March 26, '14 - NR Paul Hynek has joined the management team of Great Lakes Graphite, as director of technical operations. Working from the company's Toronto offices, Paul will play a pivotal role in preparing the company for production.
Mr. Hynek brings over 35 years of metallurgical and graphite research experience to the Great Lakes Team. While working for Inco Limited for more than three decades he was involved in the development of base metal extractive metallurgical processes, fundamental research on thermodynamic properties of various metal-sulfur systems and new product development.
Paul helped establish and managed a state-of-the-art materials characterization laboratory at Inco for the development and physical characterization of materials primarily based on nickel and graphite for use in various industries. During this time, he co-authored three patents and developed image analysis software for studying the performance characteristics of rechargeable batteries.
Recently, Mr. Hynek has acted as an independent consultant for Industrial Minerals companies. In these roles, Mr. Hynek investigated methods of optimizing the crushing and grinding of ore and extraction of graphite to maintain a high level of purity where possible while preserving flake size, as well as writing much of the technical content for a number of company websites. He has studied techniques for the production of exfoliated graphite. Paul's list of graphite related contacts in both industry and academia is extensive.
CEO Paul Gorman said "We are revving up activities on several tracks in order to achieve the shortest possible timeline to production. This includes everything from resource estimation and metallurgical studies to customer sampling programs and production planning. Running these activities in parallel will position us to hit our 2017 production target. Having professionals with the depth of experience that Paul Hynek brings to the table is how we mitigate our risk and maximize our probability of success."
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March 25, '14 - NR
Great Lakes Graphite, is planning a non-brokered private placement offering of up to a total of seven million units of company equity. The private placement will comprise an offering of up to seven million units at a price of 8.5 cents per unit for gross proceeds of up to $595,000. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the company at a price of 11 cents for a period of 24 months after the closing of the offering.
A finder's fee equal to a cash commission of 8 per cent of the aggregate gross proceeds from the units sold, plus finder warrants equal to 8 per cent of the aggregate number of units sold, will compensate finders appointed by the company to source subscriptions. All securities issued by the offering will be subject to a hold period of four months plus one day. The offering is subject to regulatory approval.
Net proceeds from the offering will be used to finance exploration of the company's graphite prospects in the Buckingham and Lochaber townships of southwestern Quebec, and to develop additional graphite exploration opportunities for the company. |
