Northwire Canada EditionFriday, November 13, 2026
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Financings

First Canadian applies for TSX OK to close financing

By The Northwire Desk — AI Analysis Dec 23, 2025 · 17:55 FCI · 0.18 First Canadian Graphite Inc.
FCI · Price

Executive Summary

  • First Canadian Graphite Inc. closed a private placement financing of $719,449.95 consisting of 4,796,333 units priced at $0.15 each.
  • Each unit includes one common share and one warrant exercisable at $0.20 for two years; gross proceeds are earmarked for general working capital.
  • A finder’s fee of $30,838.50 cash plus a warrant to purchase up to 186,550 shares was also issued; three insiders subscribed for 260,000 units under exempt related‑party terms.

Key Details

  • Financing Size: $719,449.95 total proceeds.
  • Units Issued: 4,796,333 units at $0.15 per unit.
  • Unit Composition: 1 common share + 1 warrant (exercise price $0.20, term two years).
  • Use of Proceeds: General working capital; board may reallocate funds for sound business reasons.
  • Finder’s Compensation: Cash fee of $30,838.50 plus a finder’s warrant to purchase up to 186,550 shares at $0.20 (two‑year term).
  • Regulatory Conditions: Closing subject to all required approvals, including TSX Venture Exchange; securities subject to hold period of four months + one day from issue date.
  • Insider Participation: Three insiders subscribed for a total of 260,000 units; transaction qualifies as an exempt related‑party transaction under MI 61‑101 (does not exceed 25% of market cap).
  • Reporting Note: No material change report filed 21 days prior to closing because insider participation details were unknown at that time.

Notable Quotes

(No CEO/President quotes provided in the release.)

Read the original news release →

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