Business
First Canadian Graphite Inc. Closes Financing - $2,801,874.00
(TheNewswire)     Montreal, QC,    February 17, 2026 - TheNewswir...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"First Canadian Graphite Inc. Closes Financing - $2,801,874.00\n(TheNewswire)\n\n\n\n\n\n \n\n \n\n\nMontreal, QC,   February 17, 2026 - TheNewswire — First Canadian Graphite Inc. (the “Company”) (TSX-V: FCI | Frankfurt: BK2) is pleased to\nannounce that further to its releases dated January 26, 2026, February\n6, 2026 and February 16, 2026, the Company has received TSX Venture\nExchange approval and has closed its private placement offering as to\n9,339,580 units at $0.30\nfor gross proceeds of $2,801,874.00.  Each unit\nis comprised of one common share and one-half warrant.  Each whole warrant will entitle the holder to purchase one\ncommon share exercisable at $0.50 for two years.\n\n\n \n\n\nThe gross proceeds from the financing will be for general working capital and an exploration and drill program on the Company’s Berkwood\nGraphite Project located in northern Quebec.\n The Company will update shareholders as progress evolves.  \nWhile the Company intends to spend the proceeds\nfrom the financing as stated above, there may be circumstances where,\nfor sound business reasons, funds may be reallocated at the discretion\nof the Board.\n\n\n \n\n\nFinder fees of $38,802.02 cash and 125,440 finder warrants, exerciseable\nat $0.50 for two years has been paid/issued.\n\n\n \n\n\nThe securities to be issued under this financing are\nsubject to a hold period ending June 18, 2026, and if applicable, will\nbe subject to U.S. resale restrictions under U.S. securities laws.\n\n\n\n \n\n\nThree insiders of the Company subscribed for an\naggregate of 270,000 Units. As such, this participation constitutes a\n“related party transaction” as defined under Multilateral\nInstrument 61- 101 Protection of Minority Security Holders in Special\nTransactions (“MI 61-101”). Such participation is exempt from the\nformal valuation and minority shareholder approval requirements of MI\n61-101, as neither the fair market value of the Units acquired by the\ninsider nor the consideration for the Units paid by such insider\nexceeds 25% of the Company’s market capitalization.  The Company\ndid not file a material change report 21 days prior to the closing\ndate of this private placement as details of the res...