Focus Graphite Announces Non-Brokered Private Placements of Flow-Through Shares and Non-Flow-Through Units
Focus Graphite Announces Non-Brokered Private Placements of Flow-Through Shares
and Non-Flow-Through Units
OTTAWA, ONTARIO, December 23, 2022 — Focus Graphite Inc. (TSXV: FMS) (the
“Company” or “Focus Graphite”) announced today that it plans to complete a non-brokered
private placement of up to 500,000 units (the “Units”) of the Company at a price of $0.40 per
Unit (the “Offering Price”) for aggregate gross proceeds to the Company of up to $200,000 (the
“Offering”), and up to 987,692 common shares issued on a flow-through basis (the “Flow-
Through Shares”) of the Company at a price of $0.65 per Flow-Through Share (the “Flow-
Through Offering Price”) for aggregate gross proceeds to the Company of up to $642,000 (the
“Flow-Through Offering” and when referenced together with the Offering, the “Offerings”).
Each Unit will consist of one common share (a “Common Share”) in the capital of the
Company and one-half of one non-transferable common share purchase warrant (each whole
warrant, a “Warrant”) of the Company. Each Warrant issued as part of the Unit will entitle the
holder thereof to acquire one Common Share at an exercise price per Common Share of $0.65
for a period of 12 months from the closing of the Offering (the “Closing Date”).
The net proceeds of the Offering will be used for existing operations and general working capital
requirements. The net proceeds of the Flow-Through Offering will be used to support the
Company’s Tetepisca drilling program.
The Offerings are expected to close in tranches, with the first tranche to close as soon as possible
subject to certain conditions including, but not limited to, the receipt of all necessary approvals,
including the approval of the TSX Venture Exchange. The Units and Flow-Through Shares will
be sold on a private placement basis to accredited investors pursuant to the "accredited investor"
exemption or other available and agreed upon exemptions from prospectus requirements. The
Units and Flow-Through Shares, including all underlying securities thereof, will have a hold
period of four months and one day from the date of issue. No finders fee is payable on the
Offerings.
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.
Focus Graphite also announces that at its annual and special meeting held on May 19, 2022, the
shareholders approved an amendment to increase the number of options available under the stock
option plan to 11,033,278.
2
About Focus Graphite Inc.
Focus Graphite Inc. is an advanced exploration and mining company with an objective of
producing graphite concentrate at its wholly-owned Lac Knife flake graphite deposit located 27
km south of Fermont, Québec. In a second stage, Focus Graphite aims to meet Québec
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 mining 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 about Focus Graphite, please visit www.focusgraphite.com.
Contact:
Judith Mazvihwa-Maclean
CFO
613-581-4040
Neither the 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 Information
This news release may contain certain forward-looking information and statements, including
without limitation, the closing of the Offerings, statements pertaining to the use of proceeds, and
the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All
statements included herein, other than statements of historical fact, are forward-looking
information and such information involves various risks and uncertainties. There can be no
assurance that such information will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such information. A description of assumptions
used to develop such forward-looking information and a description of risk factors that may
cause actual results to differ materially from forward-looking information can be found in Focus
Graphite's disclosure documents on the SEDAR website at www.sedar.com. The Company does
not undertake to update any forward-looking information except in accordance with applicable
securities laws.