Focus Graphite Closes $212,500 Private Placement

Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) has closed a non-brokered private placement for gross proceeds of $212,500. The company has issued 2,125,000 units at a price of 10 cents per unit. Each unit comprises one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one common share at a price of 10 cents per common share until Dec. 23, 2020.
In connection with the closing of the offering, the company paid cash finders’ fees totalling $16,000 and issued 160,000 non-transferable warrants, each warrant entitling the holder to acquire one (1) common share of the Company at a price of $0.10 per common share until December 23, 2018.
The securities issued in connection with the closing of the Offering are subject to a four-month hold period expiring on April 24, 2017. The Offering is subject to the final approval of the TSX Venture Exchange.
About Focus Graphite
Focus Graphite Inc. is an advanced exploration and development mining company with an objective of producing graphite concentrate at its Lac Knife deposit located south west of Fermont, Quebec. 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.
Qualified Person
Mr. Marc-Andre Bernier, M.Sc, P.Geo (Quebec and Ontario), a Director of the Company and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this news release.
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