Fundamental Research Corp. Initiates Coverage on Focus Graphite Inc.

"The Graphite Arbitrage: High-Grade, Low-Cost Supply for Defense and Critical Industries"

Disseminated on behalf of Focus Graphite Inc.

Fundamental Research Corp. ("FRC") is pleased to announce that it has initiated research coverage on Focus Graphite Inc. (TSXV: FMS,OTC:FCSMF) (OTCQB: FCSMF) (FSE: FKC0). The report, titled "The Graphite Arbitrage: High-Grade, Low-Cost Supply for Defense & Critical Industries Initiating Coverage," highlights the Company's strategic positioning within the critical minerals sector.

FRC's report details Focus Graphite's two key Quebec-based assets—Lac Knife and Tétépisca—both high-grade graphite projects in a mining-friendly jurisdiction. Lac Knife hosts one of the highest-grade graphite deposits in North America and has completed feasibility studies, while Tétépisca is also high-grade and ranks among the continent's largest graphite resources. Both projects feature open-pit mining potential and favorable strip ratios, supporting efficient, low-cost production.

In December 2025, Focus Graphite secured $14 million in non-repayable government funding to develop a facility producing ultra-high-purity graphite (>99.95% C) for defense, aerospace, and advanced technology applications. Graphite is essential in lithium-ion batteries and defense applications, and listed among NATO's Defence Critical Raw Materials. The U.S. has a pressing need for domestic graphite production, as it imports 100% of its graphite consumption.

The full report is available on FRC's platform: www.researchfrc.com

About Fundamental Research Corp. (FRC)

Founded in 2003, FRC is North America's leading equity research firm, having covered over 750 companies across diverse sectors. Our mission is to deliver high-quality equity research accessible to everyone—not just institutional investors—while maintaining the highest ethical standards. Most major institutional and retail financial platforms worldwide either distribute our reports or feature our ratings, fair value estimates, and revenue and earnings projections.

FRC's proprietary platform, www.researchfrc.com, provides everyone with access to critical decision-making tools, including institutional-grade research, screening, proprietary fair value estimates on North American stocks, market insights, videos, prediction data, portfolio strategies, and more—enabling smarter, data-driven decisions using professional-grade resources.

*Disclaimer - Focus Graphite Inc. has paid FRC a fee for research coverage and distribution of reports.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290911