Focus Graphite Expands Private Placement and Amends Equity Incentive Plan

Focus Graphite Inc. has announced an increase in its non-brokered private placement offering from $300,000 to $500,000. This will involve issuing an additional 2,666,666 units, totaling 6,666,666 units. Each unit consists of one common share and a non-transferable purchase warrant, allowing the holder to acquire another common share at $0.10 within 24 months of the closing date, expected around October 4, 2024.

The proceeds are earmarked for maintaining operations and covering general working capital needs. The offering includes the possibility of finder's fees, and the process will adhere to necessary approvals and conditions, including TSX Venture Exchange approval.

Additionally, shareholders have approved an amended 20% fixed equity incentive plan, increasing available options to 12,492,834. The plan's approval is pending from TSX-V, aiming to enhance stock options for eligible recipients.