Focus Graphite Closes $1.43-million Private Placement

Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) announced the closing of a private placement. In total, the Company issued 14,333,800 flow-through common shares at a price of $0.10 per common share for aggregate proceeds of $1,433,380.
As quoted in the press release:

In connection with the closing of the Offering, the Company paid cash finder’s fees totaling $114,670.40 to Secutor Capital Management Corp. (“Secutor”) and issued 1,146,704 non-transferable warrants to Secutor and Marquest Capital Markets, 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, 2017.
The securities issued in connection with the Offering are subject to a four month hold period ending on April 24, 2016. The proceeds of this Offering will be allocated to exploration work on the Company’s mineral properties in Québec. The Offering is subject to final approval from the TSX Venture Exchange.
Additionally, the Company has granted options to its employees, consultants, directors and officers to purchase 4,800,000 common shares of the company at $0.10 a share over a period of five-years pursuant to the Company’s stock option plan; of which 3,500,000 options were granted to directors and officers of the company.

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