Focus Graphite Announces Share Consolidation
Focus Graphite Announces Share Consolidation
KINGSTON, ONTARIO, April 14, 2022 - Focus Graphite Inc. (“ Focus” or the “Company )
(TSXV:FMS) announced today that at the upcoming annual and special shareholder meeting of
May 19, 2022, the shareholders will be asked to consider, and if deemed appropriate, pass a
special resolution approving an amendment to the Company’s articles to consolidate the issued
and outstanding common shares of the Company on the basis of one (1) post -consolidation
common share for every ten (10) pre -consolidation common shares outstanding (the
“Consolidation”).
There are currently 551,663,902 common shares issued and outstanding. post -Consolidation
there will be approximately 55,166,390 common shares issued and outstanding.
No fractional common shares of the Company will be issued if, as a result of the Consolidation, a
registered shareholder would otherwis e be entitled to a fractional share. Instead, the Company
will round any fractional shares resulting from the Consolidation in the following manner: a
registered shareholders holding 0.50 or more fractional shares will be rounded up to the nearest
whole share, and a registered shareholder holding less than 0.50 of a fractional share will be
rounded down to the nearest whole share.
The Consolidation will affect all Shareholders uniformly and will not affect any Shareholders’
percentage interest in the Company, except to the extent that the Consolidation would otherwise
result in a Shareholder owning a fractional share. In addition, the Consolidation will not affect
any Shareholder’s proportionate voting rights, subject to the treatment of fractional shares
described above.
The Consolidation is subject to shareholder and TSXV approval and the effective date of the
Consolidation will be announced once all approvals have been received. No name change will be
made in conjunction with the Consolidation.
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 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 wil l 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 i nformation 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.
For more information on Focus Graphite Inc., please contact:
Kimberly Darlington
Communications, Focus Graphite Inc.
Judith T. Mazvihwa-MacLean
CFO, Focus Graphite Inc.
(613) 581-4040