E-Power Resources Inc. Announces Closing of Private Placement

E-Power Resources Inc. Announces Closing of Private Placement

E-Power Resources Inc ("E-Power" or the "Company") announces that it has closed the private placement previously announced on May 9, 2023 (the "Private Placement").

An aggregate of 313,437 units (the "Non-FT Units") of the Company were issued in the non-flow-through portion of the private placement at a price of $0.32 per Non-FT Unit for gross proceeds of $100,299.84, each Non-FT Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.48 per Warrant Share for a period of 2 years from the closing date (the "Non-FT Offering").

Net proceeds from the Non-FT Offering will be used by the Company for general working capital purposes.

An aggregate of 1,075,000 units (the "FT Units") of the Company were issued in the flow through portion of the private placement at a price of $0.35 per FT Unit for gross proceeds of $376,250, each FT Unit being comprised of one common share in the capital of the Company (each a "FT Share") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), and one Warrant, each Warrant entitling its holder thereof to acquire one Warrant Share at a price of $0.48 per Warrant Share for a period of 2 years from the closing date (the "FT Offering").

Net proceeds from the FT Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the "Qualifying Expenditures"), related to the Company's Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec, on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2023. ‎ In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the "exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

No Insiders of the Company participated in this private placement.

The Company paid finders' fees to two different entities, StephenAvenue Securities Inc. and Red Cloud Financial Services Inc., which respectively received a cash commission of $266 and $24,500. In addition, StephenAvenue Securities Inc. received 831 broker warrants and Red Cloud Financial Services Inc. received 70,000 broker warrants, with each warrant entitling its holder thereof to purchase one common share of the Company at a price of $0.48 and expiring on June 13, 2025.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities offered pursuant to the Offering are subject to certain trade restrictions pursuant to applicable securities laws.

About E-Power Resources Inc.

E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at info@e-powerresources.com.

On Behalf of the Company

James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169850

News Provided by Newsfile via QuoteMedia

EPR:CC
E-Power Resources

E-Power Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
E-Power Resources (CSE:EPR)

E-Power Resources

E-Power Resources

E-Power Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Strengthening the North American Graphite Supply Chain

E-Power Provides Management Update

E-Power Provides Management Update

E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to report the appointment of Alexander Haffmans to the Board of Directors.Michael Danielsson, Director of E-Power commented: Mr. Haffmans is a serial entrepreneur and businessman from Amsterdam, The Netherlands.... Keep Reading...
E-Power Expands Targets on The Tetepisca Flake Graphite Property; Samples 68.7% Cg at The Priority Graphi-Centre Target Area

E-Power Expands Targets on The Tetepisca Flake Graphite Property; Samples 68.7% Cg at The Priority Graphi-Centre Target Area

E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") is pleased to report results from Phase 1 of the 2025 Exploration Program being completed on the Tetepisca Flake Graphite Property located in the North Shore region of Quebec. Highlights of results include:Several high grade (> 10%... Keep Reading...
E-Power Resources Inc. Announces Board Changes and Additional Staking

E-Power Resources Inc. Announces Board Changes and Additional Staking

E-Power Resources Inc. (CSE: EPR) (FSE: 8RO) ("E-Power" or the "Company") announces that William Pfaffenberger has retired from the Board of Directors ("Board"), effective immediately.The Company wishes to thank Dr. Pfaffenberger for his dedicated service and valuable contributions to the... Keep Reading...
E-Power Resources Inc. Announces Closing of Oversubscribed Hard Dollar and Flow-through Private Placements

E-Power Resources Inc. Announces Closing of Oversubscribed Hard Dollar and Flow-through Private Placements

E-Power Resources Inc (CSE: EPR) (FSE: 8RO) ("E-Power" or the "Company") announces that it has closed the hard dollar private placement (the "Hard Dollar Private Placement") and flow-through private placement (the "Flow-Through Private Placement") previously announced on June 11, 2025.An... Keep Reading...
E-Power Resources Inc. Announces Flow-Through and Hard Dollar Private Placements to Fund Summer Work Program

E-Power Resources Inc. Announces Flow-Through and Hard Dollar Private Placements to Fund Summer Work Program

E-Power Resources Inc (CSE: EPR) (FSE: 8RO) ("E-Power" or the "Company") announces its intention to complete a flow-through non-brokered private placement to raise gross proceeds of up to $150,000 (the "FT Offering"). The Company will also complete a Hard Dollar Private Placement to raise gross... Keep Reading...
Closeup of graphene molecules.

Investing in Graphene Companies

Graphene is often heralded as the “wonder material” of the 21st century, and investing in graphene companies offers investors exposure to a growing number of graphene applications across a diverse set of industries. Technological advancements in the electronics industry has given rise to new... Keep Reading...
3d rendering of graphene molecules

What Factors Impact Graphene Cost?

Graphene has the potential to spur advances in a variety of sectors, from transport to medicine to electronics. Unfortunately, the high cost of graphene production has slowed commercialization.Graphene prices have come down substantially from its early days, when it reportedly cost tens of... Keep Reading...
E-Power Resources Inc Presents in Red Cloud's Virtual Webinar Series

E-Power Resources Inc Presents in Red Cloud's Virtual Webinar Series

E-Power Resources Inc. (CSE: EPR) is pleased to announce that the company is presenting a live virtual corporate update hosted by Red Cloud Financial Services on May 23rd, 2023 at 200p ET. We invite our shareholders, and all interested parties to register for the webinar and participate in the... Keep Reading...
E-Power Resources Inc. Announces Flow-Through and Non Flow-Through Private Placements

E-Power Resources Inc. Announces Flow-Through and Non Flow-Through Private Placements

E-Power Resources Inc (CSE: EPR) ("E-Power" or the "Company") announces its intention to complete a private placement, comprised of a flow-through portion of up to $600,000 (the "FT Offering") and a non-flow through portion of up to $600,000 (the "Non FT Offering", and collectively with the FT... Keep Reading...
E-Power Resources Inc. Announces Closing of a Second Tranche of Private Placement

E-Power Resources Inc. Announces Closing of a Second Tranche of Private Placement

E-Power Resources Inc ("E-Power" or the "Company") announces that it has closed a second and final tranche of the private placement previously announced on March 3, 2023 (the "Private Placement").An aggregate of 84,495 units (the " Units") of the Company were issued in the non-flow-through... Keep Reading...
E-Power Resources Inc. Announces Annual and Special Meeting Results

E-Power Resources Inc. Announces Annual and Special Meeting Results

E-Power Resources Inc (CSE: EPR) ("E-Power" or the "Company") announces that all matters submitted to shareholders for approval as set out in detail in the Company's management information circular dated March 2, 2023, were approved at its annual and special meeting of shareholders (the... Keep Reading...
E-Power Resources

E-Power Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News