On December 31, 2015, Great Lakes Graphite Inc. closed the transaction. The company issued 3,253,570 flow-through units for gross proceeds of CAD 227,750 to a total of five placees. The warrants will mature on December 30, 2017.

The company has paid a commission to the agents in cash of CAD 18,220 and issued 260,826 non transferable broker warrants. The transaction has been approved by the TSX Venture Exchange.