First Cdn Graphite working to close $300,000 financing

An anonymous director reports FIRST CANADIAN GRAPHITE INC. CLOSES FT FINANCING First Canadian Graphite Inc. has received conditional approval and will now proceed to apply to the TSX Venture Exchange to close its flow-through financing as to $300,000 and issue 1.5 million flow-through units at 20 cents. Each unit shall comprise one flow-through common share and one-half warrant. Each whole warrant will entitle the holder to purchase one common share exercisable at 25 cents for two years. The gross proceeds from the issuance of flow-through shares will be used for exploration expenses on the company's Berkwood graphite project. While the company intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board. A finder's fee of 8 per cent cash and 8 per cent in warrants exercisable for two years at the exercise price of 20 cents has been agreed on to be paid/issued. The closing of the financing is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange. All securities to be issued will be issued with the required four-month-plus-one-day hold from issuance. The company confirms there are no material facts or material changes related to the company that has yet to be generally disclosed. About the Berkwood graphite project The Berkwood graphite project is located within the jurisdiction of Quebec, in the Manicouagan regional county municipality, three hours of driving time from the city of Baie-Comeau. Easy access is provided through a major secondary road and numerous tertiary and forest roads that traverse the property. The Zone 1 resource lies eight kilometres southwest of Nouveau Monde's deposit, which has a $3.5-billion net present value on it. The company's Zone 1 resource and that of Nouveau Monde share many similar geological characteristics, with the Zone 1 resource being of exceptionally high grade and coarse flake size by global standards. The current mineral resource at the Berkwood graphite project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 per cent Cgr (graphitic carbon) and 1,526,400 tonnes in inferred resources at 16.39 per cent Cgr. The mineral resource estimates above are described in the technical report entitled "NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada," with an effective date of June 30, 2019, by Edward Lyons, PGeo, Florent Baril, Ing, and Claude Duplessis, Ing. About First Canadian Graphite Inc. First Canadian Graphite is managed by a team with over 150 years collectively with a proven record of not just finding numerous mines but building and operating them too. The company's management team's most recent success is discovering the Berkwood graphite resource in Northern Quebec. The company owns this asset 100 per cent, and the company's shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly. We seek Safe Harbor.