Focus Graphite Inc.: Update on Private Placement
OTTAWA, ONTARIO--(Marketwired - March 23, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) ("Focus" or the "Company") is pleased to provide an update following the first closing of its current unit offering (the "Offering") for gross proceeds of $937,025 (see the Company's press release dated March 7, 2017 for more details on the Offering). The Company expects to proceed with the closing of the second tranche shortly and has elected to increase the Offering from $1.5 million to $2.5 million for an additional 13,333,333 units (the "Units") at a price of $0.075 per Unit. Each Unit is comprised of one (1) common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles its holder to purchase one (1) common share at a price of $0.10 per common share for a period of 48 months following the closing.
About Focus Graphite
Focus Graphite Inc. is an advanced exploration and mining company with an objective of producing graphite concentrate at its wholly-owned Lac Knife flake graphite deposit located 27 km south of Fermont, Québec. In a second stage, to meet Quebec stakeholder interests of transformation within the province and to add shareholder value, Focus is evaluating the feasibility of producing value added graphite products including battery-grade spherical graphite.
Focus Graphite is a technology-oriented graphite mining 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 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.
Contact
Focus Graphite Inc.
Mr. Gary Economo
Chief Executive Officer
+1-613-241-4040
geconomo@focusgraphite.com
www.focusgraphite.com
