First Canadian Graphite Inc. Clarifies Closing Financing -- $2,801,874.00

Core Viewpoint - First Canadian Graphite Inc. has successfully closed a private placement offering, raising gross proceeds of $2,801,874 from the sale of 9,339,580 units at $0.30 each, which will be utilized for general working capital and exploration activities on the Berkwood Graphite Project in Quebec [1][2]. Financing Details - The private placement consists of units, each comprising one common share and one-half warrant, with each whole warrant allowing the purchase of one common share at $0.50 for two years [1]. - The financing will incur finder fees totaling $38,802.02 in cash and 125,440 finder warrants, also exercisable at $0.50 for two years [4]. Insider Participation - Three insiders subscribed for a total of 270,000 units, which qualifies as a "related party transaction" under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements [3]. Regulatory Compliance - The Company has applied to the TSX Venture Exchange for approval to close the financing and issue the securities, which will be subject to a hold period of four months plus one day from the issuance date [5]. Company Overview - First Canadian Graphite is managed by a team with over 150 years of collective experience in mining, with a focus on the Berkwood graphite resource in Northern Quebec, which is fully owned by the Company [7].