Focus Graphite Closes Non-Brokered Private Placement
Ottawa, November 26, 2024 - Focus Graphite Inc. (TSXV:FMS) ("Focus" or the "Company") announced today that on November 15, 2024 it completed its previously disclosed non-brokered private placement (the "Offering") following the closing of a second tranche. The second tranche raised gross proceeds of $52,500 through the issuance of 700,000 units (the "Units") at a price of $0.075 per Unit. Each Unit consists of one common share (a "Common Share") in the capital of the Company and one non-transferable common share purchase warrant (a "Warrant") of the Company. Each whole Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") at an exercise price per Warrant Share of $0.10 for a period of 36 months from the date of issue.
The Company paid a finder's fee of $1,575 and issued 21,000 finders warrant (the "Finders Warrants"). Each Finders Warrants entitles the finder to purchase one Warrant Share for a period of 36 months from the date of issue at a price of $0.10 per Warrant Share.
The Common Shares, Warrants, Finders Warrants and Warrant Shares will have a hold period of four months and one day until March 16, 2025.
With closing of the first and second tranches, the Company raised an aggregate of $452,500 and issued 6,033,336 Units in the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Focus Graphite Inc.
Focus Graphite Inc. is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife flake graphite deposit located 27 km south of Fermont, Québec. In a second stage, to meet Quebec stakeholder interests of transformation within the province and to add shareholder value. Focus is evaluating the feasibility of producing value added graphite products including battery-grade spherical graphite.
Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc.
For more information, please visit www.focusgraphite.com or contact:
Judith Mazvihwa-Maclean, CFO
jmazvihwa@focusgraphite.com
T. +1(613)581-4040
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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