Canadian explorer E-Power Resources (CSE:EPR) has closed the first tranche of the private placement announced on 12 March 2025.
An aggregate of just over 3.646 million units of the company were issued at a price of C$0.05 per unit for gross proceeds of C$182,323.
Each unit comprised one common share in the capital of the company and one-half common share purchase warrant, with each full warrant entitling its holder to acquire one additional common share at C$0.10 for a period of 60 months from the closing date.
Net proceeds will be used for general working capital purposes.
Two insiders of the company participated in the private placement.
E-Power Resources is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Québec.
Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region, some 215km from the Port of Baie-Comeau.
The property consists of 230 claims covering about 12,620 hectares within the Tetepisca Graphite District – an active graphite exploration and development district with defined measured and indicated resources in excess of 120 million tonnes at an average grade of about 14% graphitic carbon.
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Images: E-Power
