Focus Graphite Announces Non-Brokered Private Placement

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) announced a non-brokered private placement of up to 4,000,000 units at $0.075 per unit, aiming to raise up to $300,000 in gross proceeds. Each unit includes one common share and one non-transferable common share purchase warrant, exercisable at $0.10 for 24 months from the closing date.

No commissions or fees are associated with this financing. Net proceeds will support ongoing operations and general working capital. The offering is set to close around October 3, 2024, pending necessary approvals, including those from the TSX Venture Exchange.

The units will be sold to accredited investors and insiders, with a hold period of four months and one day. This transaction will constitute a Related Party Transaction under MI 61-101, but the company has obtained exemptions from certain requirements, as the offering's value is below 25% of the market capitalization.

Previously, funds from a May 7, 2024 private placement were used for the company's drilling program and working capital.