Focus Graphite Inc. Closes Private Placement
Focus Graphite Inc. Closes Private Placement
OTTAWA, May 7, 2024 – Focus Graphite Inc. (TSX-V:FMS) (“ Focus” or the “ Company”) is
pleased to announce it has closed a non-brokered private placement (the “ Offering”) for total
gross proceeds of $450,001.50.
As part of the Offering, the Company issued 2,352,950 common shares on a flow-through basis
(the “Flow-Through Share”) at a price of $0.17 per Flow-Through Share and 312,500 units (the
“Units”) at a price of $0.16 per Unit to accredited investors. Each Unit is comprised of one (1)
common share and one (1) common share purchase warrant (a “ Warrant”). Each Warrant
entitles its holder to purchase one (1) common share at a price of $0.20 per common share until
May 6, 2027.
The securities issued in connection with the closing of the Offering are subject to a four-month
hold period expiring on September 7, 2024.
In connection with the closing of the Offering, the Company paid a cash finder’s fee totaling
$27,000.09 and issued 159,927 warrants (the “ Finder Warrants”). Each Finder Warrant entitles
the finder to purchase one (1) common share at a price of $0.20 per common share until May 6,
2027.
The Offering is subject to the final approval of the TSX Venture Exchange.
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 flake 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 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 a significant equity position
in graphene applications developer Grafoid Inc.
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:
Kimberly Darlington
Communications, Focus Graphite
Judith Mazvihwa-MacLean
CFO, Focus Graphite
(613) 581-4040
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.
Forward-Looking Statements
This press 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, including references to the plans and project of the
Company such as proceeding with production at the Company’s Project, proceeding with
exploration activities on its permits on Lac Tétépisca. Generally, such forward-looking
information can be identified by the use of forward-looking terminology such as “potential”,
“high-potential”, “expected”, “optimistic”, “looking forward”, “moving forward”, or variations
of such words and phrases or state that certain actions, events or results “may”, “could”, “would”
or “might”. 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, including but not limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the
risk associated with exploration, development and operations of mineral deposits; (v) the risk
associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity
prices; (vii) the risks associated with uninsurable risks arising during the course of exploration,
development and production; (viii) competition faced by the issuer in securing purchasers, off-
taker markets, clients and experienced personnel and financing; (ix) access to adequate
infrastructure to support mining, processing, development and exploration activities; (x) the risks
associated with changes in the mining regulatory regime governing the issuer; (xi) the risks
associated with the various environmental regulations the issuer is subject to; (xii) risks related to
regulatory and permitting delays; (xiii) risks related to potential conflicts of interest; (xiv) the
reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk
management.
Forward-looking information is based on assumptions management believes to be reasonable at
the time such statements are made, including but not limited to, continued exploration activities,
no material adverse change in metal prices, exploration, and development plans to proceed in
accordance with plans and such plans to achieve their stated expected outcomes, receipt of
required regulatory approval, 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, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-
looking information. Forward-looking information is given as of the date of this press release,
and the Company does not undertake to update such forward-looking information except in
accordance with applicable securities laws.