TORONTO, ONTARIO--(Marketwired - June 25, 2015) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) announced today that the Company has entered into an agreement with F2 Capital of Lincoln, Massachusetts to provide project funding for the recommissioning of the Matheson Graphite Micronization Facility. The financing has been structured as a debenture, (the "Note") that provides the Company with debt financing of $750,000.

CEO Paul Gorman said, "This facility addresses the immediate capital requirements of the Matheson Micronization Facility through the commissioning stage. The terms of the financing provide GLK with maximum flexibility to complete the work required in Matheson without an onerous debt load and with minimal dilution. Our top priority is to achieve cash flow from micronization as soon as possible. Identifying the right financing partners who understand this focus has helped expedite the process."

Terms of the Note with F2 Capital are: an interest rate of 8.5% per annum; a 4% Gross Overriding Royalty on the first 30,000 tonnes produced from the micronization plant; the option of either the Company or the lender to convert the principal amount under the Note into common shares of GLK at a conversion price of $0.10. In addition, the lender has also been issued 1,875,000 warrants, with each warrant exercisable into a common share of the Company at an exercise price of $0.10 per share for a period of four years.

Closing of the Note financing is subject to approval of the TSX Venture Exchange.

About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing carbon products to a well defined market through a vertically integrated supply chain.

As there is currently no significant graphite production in North America, Great Lakes Graphite has the ability to become one of the first domestic suppliers to a growing regional customer base that requires high quality natural graphite, where pricing and demand continue to rise.

The Company, through strategic acquisitions and capable management intends to become a leader in the industrial minerals marketplace.

The Company through its Innovations Division is currently re-commissioning an Ontario based Micronization Facility for re-start 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 Lochaber Graphite Deposit is located just 30km east of Ottawa, in southwestern Québec. The Company has also entered into option and joint venture agreements with Eloro Resources Inc. (TSX VENTURE:ELO) on the Summit-Gaber Cobalt property located in the La Grande Greenstone Belt in the Baie James region of Québec. Further information regarding Great Lakes can be found on the Company's website at:

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 Information:

Great Lakes Graphite Inc.
Paul Ferguson
Chief Marketing Officer
1-800-754-4510 x106

Great Lakes Graphite Inc.
Paul Gorman
Chief Executive Officer
1-800-754-4510 x109