First Canadian Graphite Inc. Announces $3M Financing

First Canadian Graphite Inc. announced a private placement financing to raise $3,000,000 CAD. The offering consists of 6,666,667 units priced at $0.45 per unit. Each unit contains one common share and one-half warrant. Warrants are exercisable at $0.75 per share for a two-year term. An acceleration clause allows the company to reduce the remaining exercise period to 30 days if shares trade at or above $1.10 for 10 consecutive days.

Gross proceeds are allocated to general working capital and a planned 20,000-meter diamond drilling program at the Lac Guéret South project. The company granted 1,672,555 Performance Share Units (PSUs) to executives under the 2026 Omnibus Share Incentive Plan, vesting upon key performance indicators with a minimum vesting date of October 13, 2027. Securities carry a four-month-plus-one-day hold period and are subject to TSX Venture Exchange and regulatory approvals. Management will attend multiple investor conferences in late October and November 2026.

First Canadian Graphite Inc. (FCI) has secured financing to directly fund its Phase III exploration and diamond drilling program, which was previously announced for Fall 2026. The shares were issued at a price of $0.45 per unit, a figure that sits between the company’s February 2026 financing price of $0.30 and its March 2026 flow-through financing price of $0.50.

The capital raise extends the company's cash runway, mitigating near-term dilution pressure and ensuring the planned 20,000-meter drill program can proceed as scheduled. A warrant acceleration clause, included as a standard market feature to incentivize share price appreciation, does not alter the fundamental exploration timeline. This transaction represents an expected, incremental follow-up to the company's multi-phase exploration strategy, confirming management's execution of its capital allocation plan without introducing new geological discoveries, M&A activity, or revenue streams.

First Canadian Graphite Inc. (FCI) is a pre-revenue junior explorer focused on the Lac Guéret South graphite property in Quebec's Côte-Nord region. The project spans over 200 square kilometers, positioning the company as one of the largest claimholders in the Manicouagan district. The property borders Nouveau Monde Graphite's Uatnan project, situating it in a proven high-grade graphite district.

The flagship discovery is Zone 13, a district-scale conductive system identified through airborne magnetic and electromagnetic surveys. Surface sampling at Zone 13 has returned grades up to 43.4% graphitic carbon (Cg), with 30% of samples exceeding 20% Cg. Historical NI 43-101 resources at Zone 1 report 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg.

Metallurgical testing at COREM and Volt Carbon Technologies indicates high graphitic content and favorable large-flake distribution, supporting potential dry-air classification processing.