Financial Data and Key Metrics Changes - As of June 30, the company incurred approximately €124 million of the total expected €245 million cost for Phase one construction [5] - The company ended the quarter with €6.7 million in cash, which includes proceeds from a €5 million convertible note issuance in June [7] - Following the quarter, the company completed a follow-on transaction for an additional €5 million, resulting in over €12 million in cash on hand [8] Business Line Data and Key Metrics Changes - The qualification line at the Callantan graphite plant produced CSPG samples exceeding one metric ton for customer preproduction sales trials and testing [5] - Enhancements were implemented to improve cycle times and graphite flow rates, optimizing line performance [6] Market Data and Key Metrics Changes - The company is encouraged by the level of engagement from financing partners and believes the Callatin project aligns with U.S. policy priorities and growing market demand for domestic battery-grade graphite [7][10] Company Strategy and Development Direction - The company is focused on securing capital to complete the build of the Callantan graphite plant and is advancing multiple financing paths [7][10] - Long-term strategy includes vertical integration through the Coosa deposit while currently prioritizing flexibility and progress on the Callantan project [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to finance and produce the Callantan project, citing strong demand signals and federal policy support [12][13] - The company is committed to execution, transparency, and long-term value creation for shareholders [13] Other Important Information - The company has faced broader capital market volatility and trade policy shifts but remains optimistic about project financing and market conditions [7][10] Q&A Session Summary Question: Impact of potential interest rate cuts on financing - Management indicated that lower interest rates would be beneficial for project financing and long-term growth [17] Question: Future plans for convertible notes - Management stated that they would remain opportunistic regarding potential follow-on convertible note issuances [18] Question: Status of the project in Turkey - Management clarified that they are 100% focused on graphite and Phase one financing, with no current presence or claims in Turkey [22][24]

Core Points - First Canadian Graphite Inc. is proceeding to apply for the closing of a first tranche of financing amounting to $169,800, issuing 2,122,500 units at $0.08 per unit, with each unit consisting of one common share and one warrant exercisable at $0.10 for three years [1] - The proceeds from the private placement will be utilized for working capital, and a cash finder's fee of $2,820 will be paid [1] - The closing of the financing is contingent upon receiving all necessary regulatory approvals, including from the TSX Venture Exchange [2] Company Participation - An insider of the Company subscribed for a total of 312,000 units, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [5] - This insider's participation is exempt from formal valuation and minority shareholder approval requirements as the value does not exceed 25% of the Company's market capitalization [5] - The Company did not file a material change report 21 days prior to the closing date due to the unknown details of the insider's participation at that time [5] Acquisition Details - Dal Stuart Brynelsen, the Acquiror, subscribed for 312,500 units at $0.08, increasing his total holdings to approximately 12.60% of the Company's issued and outstanding common shares [6] - If the Acquiror exercises his warrants, he would hold approximately 22.15% of the issued and outstanding shares on a partially diluted basis [6] - The units were acquired for investment purposes, and the Acquiror may adjust his holdings in the future based on market conditions [7] Reporting Obligations - The Acquiror will file an early warning report with the applicable securities regulatory authorities regarding the transaction [8]