Focus Graphite Announces Pending Sale of Grafoid Shares With China's Xiamen Tungsten Co.

Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) announced its affiliate, Grafoid Inc., and Xiamen Tungsten Co. Ltd. (Xiamen), have signed a Memorandum of Understanding for the establishment of a strategic joint venture partnership.
As quoted in the press release:

The MOU establishes terms for Xiamen’s acquisition of up to a 20% equity position in Grafoid through the purchase of common shares – including up to 7,000,000 Grafoid common shares currently held by Focus Graphite and; it provides Focus Graphite with a portal in China for the future sale of value added graphite products through its strategic partnership with Xiamen. Focus Graphite, with 7.9 million shares, is the largest shareholder in Grafoid.
In summary, the MOU between Grafoid and Xiamen sets out parameters for actions that meet both parties’ immediate and long-term business objectives through a joint venture arrangement. They include:

• Xiamen’s desire to build a clean energy technology platform and introduce those technologies to the China market
• Grafoid’s goals for developing industrial applications to open the China market for the commercialization of its suite of Mesograf™ and Amphioxide ™ graphene based products
• The fulfillment of Focus Graphite’s desire to move forward with the development of the company’s Lac Knife, Québec natural flake graphite project, and supply global markets with high purity, value-added, cost-competitive graphite products while supporting the next generation battery development platform of Grafoid, Focus Graphite, Stria Lithium Inc., and Braille Battery Inc.
• The establishment of Xiamen’s business office at the Grafoid Global Technology Center in Kingston, Ontario to provide Xiamen with a North American base for future business expansion, and; the establishment of a Grafoid business office in China

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