Great Lakes Graphite Inc (GLKIF)

[Luke_McCain]

Great Lakes Graphite Increases Private Placement

TORONTO, ONTARIO--(Marketwired - June 21, 2016) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) wishes to announce that it has amended the terms of its non-brokered private placement, initially announced on April 4, 2016 (the "Offering") 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 (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.

http://www.marketwired.com/press-release/great-lakes-graphite-increases-private-placement-tsx-venture-glk-2136340.htm