E-Power Resources Inc. Announces Closing of a Flow-Through Private Placement
Summary
All securities issued as part of the closing of the FT Offering, including any shares that may be issued pursuant to the exercise of the Warrant Shares, are subject to a hold period in Canada until April 25, 2024, being four months and one day from the closing of the FT Offering, in accordance with applicable Canadian securities legislation.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 Companys Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2024. On Behalf of the Board of Directors This news release contains certain forward-looking statements within the meaning of applicable securities laws. 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.