On October 29, 2015, Great Lakes Graphite Inc. closed the transaction. The company has received CAD 933,631 in funding. The company announced that TSX Venture Exchange has accepted the filing documentation with respect to the transaction.

The transaction included participation from 18 placees. The company also paid finder's fee of CAD 7,000 and issued 70,000 finder warrants to the Foster & Associates. Each finder warrant is exercisable at CAD 0.10 per share for a period of two years.