First Canadian financing receives conditional TSX-V OK

Executive Summary

• First Canadian Graphite Inc. has closed a financing raising $1,025,000 through the issuance of 2.05 million flow-through common shares, exceeding the initial $1-million target due to oversubscription.
• The gross proceeds are designated for an exploration and drill program on the company's Berkwood graphite project in Northern Quebec, specifically for Canadian exploration expenses and flow-through critical mineral mining expenditures.
• The transaction includes a finder's fee of $70,000 in cash and 140,000 warrants, with the closing subject to final regulatory approvals from the TSX Venture Exchange.

Key Details

• Financing Amount: $1,025,000 raised (oversubscribed by $25,000).
• Shares Issued: 2.05 million flow-through common shares.
• Price Per Share: 50 cents.
• Use of Proceeds: Exploration and drill program on the Berkwood graphite project in Northern Quebec; incurred as Canadian exploration expenses and flow-through critical mineral mining expenditures.
• Tax Renunciation Terms: Expenditures to be incurred on or before Dec. 31, 2027, with renunciation effective no later than Dec. 31, 2026.
• Finder's Fee: $70,000 cash plus 140,000 finder's warrants.
• Warrant Terms: Exercisable at 50 cents for a period of two years.
• Regulatory Status: Conditional approval received from TSX Venture Exchange; final closing subject to receipt of all necessary regulatory approvals.
• Hold Period: Securities subject to a hold period ending four months plus one day following the date of issuance.
• Company Asset: Berkwood graphite project features a NI 43-101 resource estimate of 3.2 million tonnes of indicated and inferred graphite averaging 17% grade.