First Canadian Graphite Inc. Closes Financing - $1,025,000

Core Viewpoint - First Canadian Graphite Inc. has received conditional approval for a financing to raise $1,000,000 through the issuance of flow-through common shares, indicating strong investor interest with subscriptions totaling $1,025,000, which is over-subscribed by $25,000 [1][2]. Financing Details - The financing involves the issuance of 2,000,000 flow-through common shares at a price of $0.50 per share, with plans to close the over-subscribed financing and issue a total of 2,050,000 shares [1][2]. - A finder fee of $70,000 cash and 140,000 finder warrants, exercisable at $0.50 for two years, will be paid/issued as part of the financing [3]. Use of Proceeds - The gross proceeds from the financing will be allocated to an exploration and drill program on the Berkwood Graphite Project in northern Quebec, specifically for resource exploration expenses classified as "Canadian exploration expenses" [2]. - The expenditures will be incurred on or before December 31, 2027, and will be renounced to subscribers by December 31, 2026 [2]. Company Overview - First Canadian Graphite Inc. is focused on advancing its flagship Berkwood Graphite Project, which has a 43-101 Resource Estimate Report indicating 3.2 million tonnes of indicated and inferred graphite with an average grade of 17% [4].