Graphano Energy amends $900K private placement terms

Graphano Energy (GELEF) announced an amendment to its previously announced non-brokered private placement, adding a flow-through share tranche while maintaining the total targeted gross proceeds at up to $900K.

Under the revised terms, the offering transitions from a single unit structure into two distinct components: hard dollar units and flow-through common shares.

Under the revised terms, the restructured placement consists of up to 8.64M non-flow-through hard dollar units offered at $0.075 per unit to raise up to $648K, with each unit comprising one common share and a three-year warrant exercisable at $0.12 to fund working capital and exploration activities.

Additionally, Graphano will issue up to 2.8M flow-through common shares at $0.09 per share without accompanying warrants to generate up to $252K in gross proceeds.

Gross proceeds from the FT shares will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Canadian Income Tax Act for Graphano's exploration programs in Québec.

Graphano plans to incur these expenses by December 31, 2027, and renounce them to subscribers effective no later than December 31, 2026.

The placement may close in multiple tranches and remains subject to TSX Venture Exchange approval. All securities issued will carry a statutory four-month-and-one-day hold period. Graphano may also pay eligible finders' fees in connection with the offering.

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