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First Canadian Graphite Inc. Announces Financings
Thenewswire· 2025-11-18 13:00
Financing Announcements - First Canadian Graphite Inc. plans to raise $225,000 through a hard dollar financing by offering up to 1,500,000 units at $0.15 each, with each unit consisting of one common share and one warrant exercisable at $0.20 for two years [1][2] - The company also intends to raise $300,000 through a flow-through financing by offering up to 1,500,000 flow-through units at $0.20 each, with each unit comprising one flow-through common share and one-half warrant, where each whole warrant allows the purchase of one common share at $0.25 for two years [4][5] Use of Proceeds - The gross proceeds from the hard dollar financing will be allocated for general working capital, while the flow-through financing proceeds will be specifically used for exploration expenses on the Berkwood Graphite Project [2][5] Regulatory and Compliance - Both financings are subject to necessary regulatory approvals from the TSX Venture Exchange, and the securities issued will be subject to a hold period of four months plus one day following the date of issue [3][6] Project Overview - The Berkwood Graphite Project is located in Quebec, approximately three hours from Baie-Comeau, with easy access via major and forest roads [9] - The current mineral resource at the Berkwood Graphite Project includes 1,755,300 tonnes of indicated resources at 17.00% Cgr and 1,526,400 tonnes of inferred resources at 16.39% Cgr [11] Geological Context - The Zone 1 resource of the Berkwood Project is situated 8 km southwest of Nouveau Monde's deposit, which has a net present value (NPV) of $3.5 billion, and shares similar geological characteristics with exceptionally high-grade and coarse flake size [10] Company Background - First Canadian Graphite is managed by a team with over 150 years of collective experience in mining, with a focus on discovering and operating mines, particularly the Berkwood graphite resource in Northern Quebec [13] Community Engagement - The company acknowledges that the Berkwood Project is located within the traditional territory of the Pessamit Innu First Nation and is committed to fostering respectful and collaborative relationships with local Indigenous communities [8]