Great Lakes Graphite (GLK-V) June 21, '16 wishes to announce that it has amended the terms of its non-brokered private placement, initially announced on April 4, 2016 and announced as amended on June 1, 2016. In response to investment demand,an amendment has increased the size of the Offering, with the terms remaining unchanged.
The second tranche of the private placement will now consist of 3,130,000 units and 5,086,000 Flow Through shares, with no accompanying warrant. Each Unit in the Offering consists of one common share of the Company and one common share-purchase warrant; each Warrant entitles the holder to purchase one additional common share of the Company at a price of $CDN 0.10 for a period of twenty-four (24) months after the closing of the Offering, which is contingent upon approval by the TSX Venture Exchange.
Net Proceeds from the Offering will be used to recommission the Company’s leased graphite micronization facility in Matheson, Ontario and for flowsheet development work related to the Lochaber Graphite Project, located in southwestern Quebec.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.
The Company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ontario owned by Northfil Resources Limited, as well as for supply of high quality natural graphite concentrate (see news release dated 03/23/15), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 109,695,978 shares outstanding.
For more information, please contact:
Paul Ferguson
Chief Marketing Officer
Email: PFerguson@GreatLakesGraphite.com
1-800-754-4510 x106
Paul Gorman
Chief Executive Officer
Email: PGorman@GreatLakesGraphite.com
1-800-754-4510 x109 |
