First Canadian arranges $2.6-million financing

Executive Summary

• First Canadian Graphite Inc. announced an intended financing of up to 8,666,667 units at $0.30 per unit, raising gross proceeds of up to $2.6 million.
• Each unit consists of one common share and one-half warrant, with warrants exercisable at $0.50 for two years.
• Proceeds are designated for general working capital, subject to regulatory approvals including TSX Venture Exchange.

Key Details

• Financing Structure: Up to 8,666,667 units offered at $0.30 per unit.
• Gross Proceeds: Up to $2.6 million.
• Unit Composition: Each unit comprises one common share and one-half warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.50 for a period of two years.
• Use of Proceeds: General working capital (with potential reallocation at the Board's discretion).
• Insider Participation: Insiders may participate; details to be disclosed in the closing news release.
• Finder’s Fee: May be payable in accordance with TSX Venture Exchange policies.
• Regulatory Conditions: Closing is subject to necessary regulatory approvals, including TSX Venture Exchange.
• Hold Period: Securities issued are subject to a hold period of four months plus one day following issuance, plus applicable U.S. resale restrictions.
• Stock Option Grant: The company approved the grant of 50,000 stock options to a consultant.
  • Exercise Price: $0.30.
  • Term: Five years.
  • Hold Period: Four months plus one day.
  • Plan: Granted under the 2025 omnibus share incentive plan.

Notable Quotes

• None provided in the text.