Eagle Graphite Completes Second Tranche of Private Placement

Eagle Graphite Incorporated (TSXV:EGA) announced it has completed its second tranche of the non-brokered private placement for gross proceeds of $75,680, thereby bringing the aggregate gross proceeds of the private placement to $320,680. The first tranche of the Private Placement closed on December 4, 2015. Pursuant to Tranche 2 of the Private Placement, the Company issued 1,513,600 units at a price of $0.05 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant.
The net proceeds from the Private Placement will be used to fund exploration work and for general and administrative purposes.
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