Focus Graphite and Grafoid Inc. Finalize 10 Year Offtake Agreements

Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) and Grafoid Inc. have finalized two 10 year offtake agreements for the Lac Knife Graphite concentrate, located in Quebec
As quoted in the press release:

The first offtake agreement (the graphene offtake, formerly the energy offtake) commits Grafoid to acquire, at its discretion, up to an annual maximum of 1,000 tonnes of high-purity (98.3 per cent total carbon Ct) (1) large-flake (plus 80 mesh) graphite concentrate annually from the Lac Knife project for 10 years, representing up to 6.8 per cent of the projected annual production of 14,606 tonnes of high-purity large-flake concentrate (taken from technical report on the Lac Knife graphite feasibility study).
(1) 98.3 per cent Ct purity is the average of six pilot plant runs. The pilot plant program was completed in 2013 by SGS Canada Inc., located in Lakefield, Ont. See news release dated Aug. 21, 2013.
The second offtake agreement (the polymer offtake) commits Grafoid to acquire, at its discretion, up to 25,000 tonnes of 97.8 per cent Ct (average concentrate grade for all flake sizes) graphite concentrate annually from the Lac Knife project for 10 years, representing up to 56.4% per cent of the projected total annual production of 44,300 tonnes (all flake sizes) (taken from technical report on the Lac Knife graphite feasibility study).

Focus Graphite CEO Gary Economo stated:

These agreements are the culmination of Focus Graphite’s long-held strategic business vision that looked towards selling Lac Knife’s high-grade, high-purity graphite into future high-value technology markets, and the future is represented by a small but significant flake graphite mining deposit on the road to development in the Northern Quebec community of Fermont. These agreements assure Grafoid with a secure supply of graphite to meet its customer requirements for graphene, while Focus benefits from long-term revenue streams.

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