Eagle Graphite Incorporated announced that it has received CAD 0.32 million in funding from Latitude Minerals Inc. and other investors.

On January 14, 2016, Eagle Graphite Incorporated closed the transaction. The company issued 1,513,600 units for gross proceeds of CAD 75,680 in the second tranche of the transaction. The company has raised CAD 320,680 in the transaction.

Each warrant issued can be exercised at any time until January 14, 2018. The securities issued pursuant to the second tranche are subject to a hold period expiring on May 15, 2016. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the transaction.

The company issued units and flow-through shares to 10 placees.