Great Lakes Graphite Receives Final Approval for Severance Distribution
TORONTO, ONTARIO--(Marketwired - July 9, 2015) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) announced today that pursuant to the execution of the severance agreements with John Siriunas and Paul Ankcorn as approved by the TSX Venture Exchange, the Exchange has now approved the issuance of two million common shares to fulfill the equity component of the obligation.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing value-added carbon products to a well-defined market.
The Company's Innovation Division has entered into long-term agreements for use of the Matheson Micronization Facility and for supply of high quality natural graphite concentrate which are positioning 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.
The Company is currently preparing the Ontario-based Matheson Micronization Facility for commissioning in late 2015, to achieve the following objectives:
- Establish a position in the upgraded graphite products market with North American customers.
- Create a competitive and disruptive advantage by leveraging existing assets.
- Pursue an accelerated timeline to cash flow and revenue by micronizing and upgrading flake graphite, enabled by supply agreements with current graphite producers (the Company is not sourcing graphite feed for its Matheson Micronization Facility from its mineral projects).
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 95,304,075 shares outstanding (139,012,966 fully diluted).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Great Lakes Graphite Inc.
Paul Ferguson
Chief Marketing Officer
1-800-754-4510 x106
PFerguson@GreatLakesGraphite.com
Great Lakes Graphite Inc.
Paul Gorman
Chief Executive Officer
1-800-754-4510 x109
PGorman@GreatLakesGraphite.com
www.GreatLakesGraphite.com
