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Great Lakes Graphite to raise C$1M from private placement

Great LakesGraphite Inc. said April 4 that it is launching a nonbrokeredprivate placement of 11,111,111 units at 9 Canadian cents each for grossproceeds of up to C$1 million.

Each unit will consist of 1 common share and 1 common sharepurchase warrant. Each warrant, which expires after 24 months, can be exercisedfor 1 common share at 12 cents per share.

Net proceeds will be used for corporate development andworking capital.