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Great Lakes Graphite (TSXV:GLK) has announced it has amended the terms of its non-brokered private placement previously announced on April 4, 2016. As quoted in the press release: In response to market conditions and investment demand, the offering has been amended to a price of $0.07 per unit and a flow-through component was added at …
Great Lakes Graphite (TSXV:GLK) has announced it has amended the terms of its non-brokered private placement previously announced on April 4, 2016.
As quoted in the press release:
In response to market conditions and investment demand, the offering has been amended to a price of $0.07 per unit and a flow-through component was added at a price of $0.075 per share, with no accompanying warrant.
Each Unit in the Offering consists of one common share of the Company and one common share-purchase warrant (the “Warrants”); 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.