{"url":"https://newsforagent.com/news/2026-11-12/first-canadian-graphite-oversubscribed-financing","markdown_url":"https://newsforagent.com/news/2026-11-12/first-canadian-graphite-oversubscribed-financing.md","title":"First Canadian Graphite Closes $4.84 million Oversubscribed Financing","headline":"First Canadian Graphite Raises $4.84 million in Oversubscribed Financing, Awaits TSX Venture Approval","description":"First Canadian Graphite closed a $4.84 million oversubscribed financing with 10,762,417 units at $0.45 each.","section":"Funding","published_at":"2026-11-12T22:16:28+00:00","modified_at":"2026-11-12T22:16:28+00:00","author":"News Desk","key_takeaways":["First Canadian Graphite received subscriptions of $4.8 million, an oversubscription of $1.8 million.","The company will issue 10,762,417 units at $0.45 each, with each unit carrying one common share and one-half warrant at $0.75.","Seven insiders participated for 890,000 units, and a finder's fee of $44,068.50 cash plus 97,930 finder warrants is to be paid.","Proceeds will fund general working capital and a field stripping and diamond drilling program of an anticipated 20,000 metres."],"companies":[{"name":"First Canadian Graphite","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00kd9vu/first-canadian-graphite","website":"https://firstcanadiangraphite.com"}],"source":{"publisher":"Stock Titan","title":"First Canadian Graphite $4.84M financing awaits approval","url":"https://www.stocktitan.net/news/GRAPF/first-canadian-graphite-closes-over-subscribed-oo5tgbenowly.html"},"other_sources":[],"tags":["Funding","First Canadian Graphite"],"body_markdown":"[First Canadian Graphite](https://akta.pro/company-profiles/00kd9vu/first-canadian-graphite) Inc. received subscriptions of $4.8 million in an oversubscribed financing, an oversubscription of $1.8 million, and will apply to the TSX Venture Exchange to issue 10,762,417 units at $0.45 each. [Stock Titan](https://www.stocktitan.net/news/GRAPF/first-canadian-graphite-closes-over-subscribed-oo5tgbenowly.html) reported the closing on November 12, 2026.\n\n## First Canadian Graphite's Unit Terms and Use of Proceeds\n\nEach unit consists of one common share and one-half warrant exercisable for two years at $0.75. The warrants carry an acceleration period: if the company's shares trade at or above $1.10 per share for 10 consecutive days, the company may, by written notice to investors, reduce the remaining exercise period to not less than 30 days from the date of that notice.\n\nGross proceeds will go to general working capital and the field stripping and diamond drilling program of an anticipated 20,000 metres. The company said funds may be reallocated at the Board's discretion for sound business reasons.\n\nSeven insiders participated in the financing for 890,000 units, a related party transaction under Multilateral Instrument 61-101 that is exempt from formal valuation and minority shareholder approval requirements. A finder's fee of $44,068.50 cash and 97,930 finder warrants exercisable at $0.75 for two years has agreed to be paid and issued.\n\n\"The Company is extremely pleased with the recent completion of a hard-dollar financing that reached $4.8 million, surpassing initial expectations,\" said John LaGourgue, President and CEO of FC graphite. \"These funds are vital for executing the full exploration and drilling program planned, progressing with metallurgical work, and covering general administrative expenses through the end of 2027.\"\n\n## First Canadian Graphite's Funding History\n\nAccording to akta.pro [company records](https://akta.pro/company-data), First Canadian Graphite has two funding rounds on record and total funding of $3.5 million, with the last round dated November 4, 2026. The same records list a February 2026 post-IPO equity round of $2 million and a November 2026 post-IPO equity round of $1.4 million.\n\n| Recorded round | Amount |\n| --- | --- |\n| Post-IPO equity, February 2026 | $2 million |\n| Post-IPO equity, November 2026 | $1.4 million |\n\n## Financing Steps Before the November Close\n\nOn November 4, 2026, Stock Titan reported that First Canadian Graphite received conditional TSX Venture approval for a $2 million flow-through financing of 3,448,276 shares at $0.58, with proceeds for field stripping and 20,000m diamond drilling at Lac Guéret South and a finder's fee of $140,000 and warrants. On October 21, 2026, FinancialContent Business Page reported a $3 million financing via 6.67M units at $0.45 each with warrants exercisable at $0.75, for general working capital and a 20,000-metre diamond drilling program at Lac Guéret South, subject to regulatory approvals.\n\n## Approval and Hold Period for the Financing\n\nClosing is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. The securities issued will be subject to a hold period ending four months plus one day following the date of issuance.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}