TSXV-listed Great Lakes Graphite Seeks $2.0 Mln from Private Placement; Chairman and Director Resign

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Great Lakes Graphite Inc. is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality graphite flake properties.

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TSXV-listed Great Lakes Graphite Seeks $2.0 Mln from Private Placement; Chairman and Director Resign

posted on Aug 17, 2017 10:31PM

2017-08-17 04:31:18 PM ET (MT Newswires)

04:31 PM EDT, 08/17/2017 (MT Newswires) -- Great Lakes Graphite (GLK.V) -- trading near 52 week lows -- announced on market close Thursday a non-brokered private placement offering for 40 million units at $0.05 each, to raise gross proceeds of $2.0 million that will be used for general working capital.

Each unit in the offering consists of one Great Lakes Graphite common share and one purchase warrant, with each warrant entitling the holder to purchase an additional common share for $0.10 each.

Great Lakes Graphite also said that Chairman Richard Lane and Director Greg Murphy have resigned, effective Aug. 10.

The company's shares last traded yesterday, Aug. 16, with a last known price of $0.06.

Price: 0.06, Change: -0.005, Percent Change: -7.7

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