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Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) has closed the second and final tranche of its previously announced private placement for $883,799.70.The Company issued 2,525,142 units at a price of $0.35 per Unit, each Unit being comprised of one common share of the Company and one half (1/2) of one common share purchase warrant for the second tranche. Each Warrant entitle the holder thereof to acquire one additional common share of Focus Graphite at a price of $0.55 per share until March 27, 2017.
As quoted in the press release:
In connection with the closing of the second tranche of the Offering, the Company paid cash finder’s fees totaling $61,866 and issued 176,759 non-transferable warrants with each warrant entitling the holder to acquire one (1) common share of the Company at a price of $0.35 per common share until March 27, 2017.
The securities issued in connection with the closing of the second tranche of the Offering are subject to a four-month hold period expiring on July 28, 2015. The Offering is subject to the final approval of the TSX Venture Exchange.
The securities offered pursuant to the Offering will not be registered under the United States Securities Act of 1933 (the “Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act.
Click here to read the Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) press release
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