Focus Graphite Closes Third Tranche of Equity Financing with Alumina Partners
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Focus Graphite Closes Third Tranche of Equity Financing with Alumina Partners
KINGSTON, ONTARIO, February 14, 2022 – Focus Graphite Inc. (TSXV: FMS) (the
“Company” or “Focus Graphite”) announced today it has closed a third 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 third tranche under the Equity Financing Facility, the Company completed a private
placement for gross proceeds of $200,000 from Alumina, with Alumina receiving 3,555,555 units
of the Company consisting of a common share priced at $0.05625 per share and warrants to
purchase 1,777,777 common shares, exercisable at $0.09375 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, may
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 exploration and development company that seeks to produce flake
graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects
located in the Côte-Nord administrative region of Québec. As part of its mission to build long-term,
sustainable shareholder value, Focus is also evaluating the feasibility 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 an equity position in graphene
applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally
and ethically responsible manner.
For more information about Focus Graphite and the Company’s Lac Tétépisca and Lac Knife
projects, please visit Focus’s website at www.focusgraphite.com or contact:
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Kimberly Darlington
Communications, Focus Graphite
Judith Mazvihwa-MacLean
CFO, Focus Graphite
(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 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.