Business
First Canadian Graphite Inc. Closes Financing
(TheNewswire)   Montreal, QC,    December 23, 2025 - TheNewswire &#x...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"First Canadian Graphite Inc. Closes Financing\n(TheNewswire)\n\n\n\n \n\n\nMontreal, QC,   December 23, 2025 - TheNewswire — First Canadian Graphite Inc. (the “Company”) (TSX-V: FCI | Frankfurt: BK2) is pleased to\nannounce that further to its press release dated November 18, 2025 and\nDecember 10, 2025, the Company will be applying to the TSX to close\nits financing as to $719,449.95.  The financing consists of 4,796,333\nunits at $0.15.  Each unit shall be comprised\nof one common share and one warrant exerciseable at $0.20 for two\nyears.\n\n\n \n\n\nThe gross proceeds from the financing will be for general working capital.  While the Company intends to spend the proceeds from the\nfinancing as stated above, there may be circumstances where, for sound\nbusiness reasons, funds may be reallocated at the discretion of the\nBoard.\n\n\n \n\n\nA finder’s fee of $30,838.5 cash has agreed to be\npaid along with the issuance of a finder’s warrant for the right to\npurchase up to 186,550 shares exerciseable at\nthe price of $0.20 for two years.\n\n\n \n\n\nThe closing of the financing is subject to receipt of\nall necessary regulatory approvals including the TSX Venture Exchange.\n The securities issued under the financing will be subject to a hold\nperiod ending on the date that is four months plus one day following\nthe date of issue in accordance with applicable securities laws.\n \n\n\n \n\n\nThree insiders of the Company subscribed for a total of\n260,000 Units. As such, this participation constitutes a “related\nparty transaction” as defined under Multilateral Instrument 61- 101\nProtection of Minority Security Holders in Special Transactions (“MI\n61-101”). Such participation is exempt from the formal valuation and\nminority shareholder approval requirements of MI 61-101, as neither\nthe fair market value of the Units acquired by the insider nor the\nconsideration for the Units paid by such insider exceeds 25% of the\nCompany’s market capitalization.  The Company did not file a\nmaterial change report 21 days prior to the closing date of this\nprivate placement as details of the respective participation of such\ninsiders in the Offering was unknown at such time.  \n...