Canadian explorer E-Power Resources (CSE:EPR) is undertaking a private placement to raise $500,000 to advance the development of its Tetepisca flake graphite property in Québec.
The explorer plans to issue of up to 10 million units, comprising one share and half a share purchase warrant, priced at C$0.05 each.
Each full share purchase warrant is exercisable for one share at a cost of C$0.10 within five years.
E-Power Resources expects the placement to close on or about 9 April 2025.
Earlier this week, the company reported samples of up to 28.7% graphitic carbon from the Tetepisca property, which sits in the North Shore Region of Québec.
The high-grade sample sits just 4.5km from the Uatnan resource pit, which President and CEO James Cross says is “probably the best graphite deposit in North America”.
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.
Write to Angela East at Mining.com.au
Images: E-Power Resources
