01:28 PM EST, 01/04/2018 (MT Newswires) -- Mason Graphite Inc. (LLG.V) has closed the bought deal private placement offering announced on December 12, 2017. The company issued, on a bought deal basis, a total of 18.75 million common shares at $2.40 per share for total gross proceeds of $45 million.

The net proceeds will be used for development and construction expenses related to the Lac Gueret graphite mine and Baie-Comeau, Quebec concentrator plant project, most of which the Company expects to incur over the next twelve months, and for general corporate purposes.

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