Focus Graphite Closes First Tranche of Non-Brokered Private Placement
Focus Graphite Closes First Tranche of Non-Brokered Private Placement
Ottawa, October 11, 2024—Focus Graphi te Inc. (TSXV:FMS; OTCQX:FCSMF;
FRANKFURT:FKC) (the “Company”) announced today the closing of the first tranche of the
previously announced non-brokered private placement (the “Offering”) for gross proceeds of
$400,000. The Company issued 5,333,336 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 $14,000 and issued 186,667 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 February 9, 2025.
The net proceeds of this financing will be used to maintain the Company's existing operations
and general working capital requirements.
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
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 about Focus Graphite, please visit www.focusgraphite.com.
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.
Focus Graphite Investor Contact:
Focus Graphite Inc.
2
Judith Mazvihwa-MacLean
CFO
(613) 581-4040
Forward-Looking Statement
This News Release contains "forward-looking information" within the meaning of Canadian
securities legislation. All information contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects" "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity, performance, or
achievements of the Company to be materially different from those expressed or implied by such
forward-looking information. Forward-looking information is based on assumptions
management believes to be reasonable at the time such statements are made, including but not
limited to, receipt of required regulatory approvals, and such other assumptions and factors as set
out herein. Although the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in the forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for the purpose of assisting
investors in understanding the Company's business and operations and may not be appropriate
for other purposes. Accordingly, readers should not place undue reliance on forward-looking
information. Forward-looking information is made as of the date of this News Release, and the
Company does not undertake to update such forward-looking information except in accordance
with applicable securities laws.