Focus Graphite Closes Fourth Tranche of Financing with Alumina Partners
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Focus Graphite Closes Fourth Tranche of Financing with Alumina Partners
KINGSTON, ONTARIO, September 9, 2022 – Focus Graphite Inc. (TSXV: FMS) (the “Company”
or “ Focus Graphite ”) announced today it has closed a fourth tranche under the previously
announced equity financing facility (the “ Equity Financing Facility”) with Alumina Partners
(Ontario) Ltd. (“Alumina”), an affiliate of New York -based private equity firm Alumina Partners,
LLC.
In the fourth tranche under the Equity Financing Facility, the Company completed a private
placement for gross proceeds of $100,000 from Alumina, with Alumina receiving 579,711 units of
the Company consisting of a common share priced at $0.1725 per share and warrants to purchase
289,855 common shares, exercisable at $0.2875 per share for 36 months.
The Equity Financing Facility will provide the Company with up to $12.0 million over a 24- month
period for working capital and general corporate purposes. Under the Equity Financing Facility,
the Company may, subject to certain conditions, restrictions and acceptance by Alumina, raise
funds through private placements in tranches of up to $500,000. Each tranche shall be a private
placement of units, to be comprised on one common share and one- half of a common share
purchase warrant, which will be exercisable for 36 months. The units will be issued at a discount
of 25% of the closing market price at the time of each tranche, and the warrants will be issued at
a 25% premium over the closing market price at the time of each tranche.
There are no standby charges or other upfront fees associated with the Equity Financing Facility.
Each tranche of units issued under the Equity Financing Facility will be subject to the acceptance
of the TSX Venture Exchange, and the securities issued will be subject to the customary 4-month
hold period.
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 and Lac Tétépisca flak e graphite projects
located in the Côte -Nord administrative region of Québec. In a second stage, to meet Québec
stakeholder interests in developing second transformation industries within the province and to
add shareholder value, Focus is evaluating the f easibility of producing value added specialty
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 Regul ation 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.
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Forward Looking Information
This news release may contain certain forward- looking information and statements, including
without limitation, the closing of any private placements, 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.
For more information, please contact:
Kimberly Darlington
Communications and Investor Relations
514-771-3398