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Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) announced that its Board of Directors has approved to convert $1,500,000 in financing to Grafoid Inc. to 3,000,000 common shares in Grafoid at $0.50 per share.
As quoted in the press release:
On May 3rd 2012, at the Corporation’s annual meeting, disinterested shareholders of the Corporation passed a resolution to approve the participation of the Corporation in Grafoid Inc. enabling the Corporation to fulfill its commitment to provide Grafoid with CAN$1,500,000 funding.
Click here to read the Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) press release
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