Great Lakes Graphite investors acquire 4.5 M shares
Great Lakes Graphite investors acquire 4.5 M shares
2016-06-08 14:18 ET - News Release
Mr. Frank Ferguson, shareholder, reports
ACQUISITION OF SECURITIES OF GREAT LAKES GRAPHITE INC.
Pursuant to a private-placement financing, Frank Ferguson and Mitzi Ferguson have acquired 4,505,000 common shares of Great Lakes Graphite Inc. at an issue price of seven cents per share.
Prior to the private placement, Mr. Ferguson and Ms. Ferguson beneficially owned and/or exercised control or direction over 8,305,999 common shares, a convertible debenture entitling Mr. Ferguson and Ms. Ferguson to acquire up to 7.5 million common shares, as well as common share purchase warrants entitling Mr. Ferguson and Ms. Ferguson to acquire up to 3,775,000 common shares. Following the private placement, Mr. Ferguson and Ms. Ferguson beneficially own and/or exercise control or direction over 12,810,999 common shares, warrants to acquire up to 3,775,000 common shares, and the debenture entitling Mr. Ferguson and Ms. Ferguson to acquire up to 7.5 million common shares. This represents approximately 19.9 per cent of the issued and outstanding common shares on a partially diluted basis (or 24,085,999 common shares, assuming exercise of all of the warrants and conversion of the debenture held by Mr. Ferguson and Ms. Ferguson).
Mr. Ferguson and Ms. Ferguson acquired the common shares for investment purposes only and may, in the future, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over common shares in the capital of the corporation.
A copy of the early warning report filed in connection with this press release may be found on SEDAR under GLK's corporate profile page.
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