First Canadian Graphite Inc. raises capital for Quebec graphite project
- Reports
- 6
- Developments
- 1
- Repetition
- 83%
New informationRepeats or wire copies
What happened
First Canadian Graphite Inc. announced an intention to offer up to 3,448,276 flow-through common shares at $0.58. This financing will raise up to $2,000,000 CAD to fund the field stripping and diamond drilling program for the Lac Guéret South graphite project. The proceeds will be used to incur resource exploration expenses, supplementing a previously announced $3 million CAD hard-dollar financing.
From hawaiitelegraph.com
Why it matters
The financing is designed to incur resource exploration expenses that qualify as 'flow-through critical mineral mining expenditures' under the Income Tax Act. This capital injection supports the exploration phase of the graphite project, which is located in the Manicouagan reservoir area near Baie-Comeau.
From hawaiitelegraph.com
Who's involved
- CompanyThe company announcing the financing to fund its graphite project.
- projectThe graphite project located in the Manicouagan reservoir area.
- Baie-ComeauThe city near which the graphite project is situated.
- ManicouaganThe regional reservoir area where the company's project operates.
- Côte-NordThe administrative region in Quebec where the project is located.
- PessamitThe ancestral territory where the project is located.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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The entities involved
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Baie-Comeau
city in Côte-Nord, Quebec, Canada
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Manicouagan
regional county municipality in Quebec, Canada
Nothing else this week.