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    graphite investing

    Focus Graphite Announces Third Closing of Private Placement for $1,113,525

    Haley Stavert
    Apr. 25, 2017 07:45AM PST
    Battery Metals
    Graphite Investing

    Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) is pleased to announce that it has held a third closing of its previously-announced non-brokered private placement at which it issued an aggregate of 14,847,001 units at a price of $0.075 per unit, for gross proceeds to Focus of $1,113,525. Each of the units consists of one common share in the capital of Focus and one common share purchase warrant. Each warrant entitles its holder to purchase one additional common share of Focus at an exercise price of $0.10 until April 21, 2021.

    Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) is pleased to announce that it has held a third closing of its previously-announced non-brokered private placement at which it issued an aggregate of 14,847,001 units at a price of $0.075 per unit, for gross proceeds to Focus of $1,113,525. Each of the units consists of one common share in the capital of Focus and one common share purchase warrant. Each warrant entitles its holder to purchase one additional common share of Focus at an exercise price of $0.10 until April 21, 2021.
    As a result of the third closing, Focus raised total proceeds of $2,489,372 in the private placement. The net proceeds from the sale of the units will be added to Focus’ working capital.
    In connection with the third closing of the private placement, Focus paid finder’s fee in the aggregate amount of $46,000. In addition, Focus issued non-transferable broker warrants entitling to acquire up to an aggregate of 613,333 common shares of Focus at a price of $0.10 per share until April 21, 2021.
    Under applicable securities legislation and the policies of the TSX Venture Exchange (the “Exchange”), all securities issued at the third closing of the private placement are subject to a four-month hold period, expiring on August 22, 2017. The private placement remains subject to the final approval of the Exchange.
    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.
    Click here to connect with Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) to receive an Investor Presentation.

    Source: www.marketwired.com

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