Great Lakes Graphite Inc. (TSXV:GLK) announced that it has entered into an agreement for a non-brokered private placement of a debenture for gross proceeds of CAD 750,000 with new investor F2 Capital on June 25, 2015. The debenture carries a fixed coupon of 8.5% per annum. The debenture is convertible into common shares of the company at a conversion price of CAD 0.10 per share.

The company also issued 1,875,000 warrants, with each warrant exercisable into a common share of the company at an exercise price of CAD 0.10 per share for a period of four years. Closing of the note financing is subject to approval of the TSX Venture Exchange.