First Canadian Graphite Inc. Closes Financing

Core Viewpoint - First Canadian Graphite Inc. is closing a financing round of $719,449.95, consisting of 4,796,333 units priced at $0.15 each, with each unit including one common share and one warrant exercisable at $0.20 for two years [1][2]. Financing Details - The gross proceeds from the financing will be allocated for general working capital, although the Board may reallocate funds for sound business reasons [2]. - A finder's fee of $30,838.5 will be paid, along with a finder's warrant allowing the purchase of up to 186,550 shares at $0.20 for two years [3]. - The closing of the financing is contingent upon receiving all necessary regulatory approvals, including from the TSX Venture Exchange [4]. Insider Participation - Three insiders subscribed for a total of 260,000 units, which qualifies as a "related party transaction" under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements [5]. Company Overview - First Canadian Graphite is managed by a team with over 150 years of collective experience in mining, with a recent success in discovering the Berkwood graphite resource in Northern Quebec, which the company owns 100% [6]. - The demand for graphite is expected to increase significantly due to its use in electric vehicles, benefiting the company's shareholders [6].