First Canadian Graphite Plans to Raise CA$3 Million Through Issuance of Units

08:18 AM EDT, 10/21/2026 (MT Newswires) -- First Canadian Graphite (FCI.V) plans to raise CA$3 million through the issuance of around 6.7 million units at CA$0.45 each, it said Wednesday. Each unit will be made up of a share and one-half warrant exercisable for two years at CA$0.75, subject to an acceleration clause, said the company. The company plans to use the gross proceeds for general working capital and the upcoming field stripping and diamond drilling program of an anticipated 20,000 meters, it added. The closing of the financing is subject to receipt of all necessary regulatory approvals, added First Canadian Graphite. "After the encouraging results from our summer prospecting and airborne surveys, we're excited to begin testing the geology at Lac Gueret South with the drill bit," said Chief Executive Officer John LaGourgue. "Our work this past summer has outlined a large, high-grade graphite system at Zone 13, and this financing positions us to advance the project systematically, as planned."