Focus Graphite Inc. Signs Definitive Option Agreement

 Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) has signed a Definitive Option Agreement with Lara Exploration Ltd. (TSXV:LRA) for the Caninde Graphite Project in Brazil.  Under the First Option, Focus can earn a 51% interest in the Property paying R$30,000 to a third party for claim acquisition costs, issuing 500,000 common shares to Lara, and carrying out exploration on the Property. Under the Second Option, Focus can earn an additional 9% interest in the Property by carrying out additional exploration work including a further 5,000 m of drilling and by completing a positive Preliminary Economic Assessment, for a total expenditure of at least $4.5 million by the fifth anniversary of the Agreement.

As quoted in the press release:

Under the terms of the Agreement, Lara through its wholly-owned British Virgin Islands subsidiaries Lara (BVI) Ltd. and Pan Brazilian (BVI) Ltd. which collectively own 100% of the mineral rights to the Canindé property (the “Property”), has granted Focus two separate options to acquire a total 60% undivided interest in the Property.

Click here to read the Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) press release

See this press release on Marketwire
Click here to see the Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) profile

Get the Latest Graphite Investing Stock Information

Get the latest information about companies associated with Graphite Investing delivered directly to your inbox.

Graphite Production/Mining
Graphite Prospecting and Exploration
Graphite Resource Definition/Pre Feasibility
Graphite Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

"Did you know graphite is as tough as diamonds, but its unique structure makes it light, soft, and highly resistant to heat as well?"

Find out everything an investor needs to know about graphite investing. Click below to download a FREE industry report on the graphite market.

Leave a Reply