Saint Jean Carbon Inc. (TSXV:SJL) (‘SJL') signed a term sheet to acquire 95% stake in Lochaber Graphite Deposit, located in Southwestern Quebec from Great Lakes Graphite Inc. (TSXV:GLK) for CAD 0.53 million on January 25, 2018. A definitive agreement will be signed by both parties upon completion of a 10 day due diligence period. On May 3, 2018, a definitive agreement was signed whereby SJL a 100% ownership in the Lochaber Graphite Deposit located in Southwestern Quebec for CAD 0.52 million.

SJL will issue 3 million common shares to Great Lakes Graphite, pay a 1.75% operating royalty on production, pay CAD 0.43 million over four years in four equal payments and enter into an offtake with Great Lakes Graphite and its affiliates to have the first right of refusal on up to 10,000 metric tonnes of graphite concentrate during the mine's production life. The transaction is subject to approval by shareholders and the TSX Venture. The sale of the assets was approved by the Board of Directors of Great Lakes Graphite.

On July 5, 2018, the TSX Venture exchange conditionally accepted the transaction. Fogler's Canada LLP served as the legal advisor to Great Lakes Graphite on the deal.