Graphano Energy Ltd. (TSXV: GEL) has announced the completion of the prospecting phase of its fall exploration program at the Black Jack graphite discovery in Québec, with laboratory results expected within two to four weeks. Simultaneously, the company has applied to expand its exploration area westward and launched a non-brokered private placement of up to 12,000,000 units targeting gross proceeds of up to $900,000. The triple announcement positions Graphano as it works to define the scope of the Black Jack and Black Pearl graphite trends. Investors may be watching closely for assay results and regulatory approvals on the permit application.

Key Points

  • Graphano Energy Ltd. (TSXV: GEL) (FSE: 97G0) is a Québec-focused graphite exploration company
  • Prospecting phase at Black Jack graphite discovery is complete; all samples have been shipped for graphitic carbon analysis
  • Private placement offers up to 12,000,000 units at $0.075 per unit, with warrants exercisable at $0.12 for 36 months
  • Investors should watch for laboratory results within two to four weeks and TSXV acceptance of the private placement

Black Jack Prospecting Phase Complete, Results Pending

The field crew led by St Pierre Exploration, mobilised on September 23, 2026, has finished the prospecting phase at the Black Jack graphite discovery, located approximately one kilometre northwest of the company's Black Pearl discovery. All samples collected have been shipped for graphitic carbon analysis, and Graphano states it expects results within two to four weeks, to be released once all data has been received and reviewed. The Black Jack discovery was initially identified in spring 2026, when 28 grab samples returned graphitic carbon values ranging from 12.0% Cg to 26.5% Cg, with an average grade of 19.8% Cg. The company notes that grab samples are selective by nature and not necessarily representative of the average grade of the mineralised zone.

Westward Permit Application and Ground Geophysics at Black Jack

Building on results to date, Graphano has submitted an application to Québec's Ministère des Ressources naturelles et des Forêts for an additional autorisation de travaux à impact to expand the Black Jack exploration area toward the west. The company also intends to conduct additional ground geophysical surveys to refine conductive targets associated with the Black Jack graphite horizon and to potentially expand the prospecting footprint. These steps reflect a systematic effort to better define the structural and geological extent of the discovery before advancing to more capital-intensive exploration activities.

Non-Brokered Private Placement Structure and Use of Proceeds

Graphano is offering up to 12,000,000 units priced at $0.075 each, with each unit comprising one common share and one warrant exercisable at $0.12 per share for 36 months from issuance. Gross proceeds could reach $900,000. The company intends to direct net proceeds toward exploration at Black Jack and Black Pearl, including ground geophysics and drilling, as well as general working capital. Finder's fees may be paid to eligible finders in accordance with TSXV policies. All securities issued will be subject to a statutory hold period of four months and one day. Completion remains subject to regulatory approvals including TSXV acceptance.