Focus Increases Flow-Through Offering and Announces Unit Offering
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OTTAWA, Ontario, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Focus Graphite Inc. (TSX-V:FMS) (OTCQX:FCSMF) (FSE:FKC) (“Focus” or the “Company”) announces the increase of its current flow-through offering (the “FT Offering”) for an additional gross proceeds of $250,000 (see the Company’s press releases dated November 7, 2017 (first closing) and December 8, 2017 (first increase) for more details on the FT Offering). The Company expects to proceed shortly with the second and final closing of the FT Offering. Therefore, following the first increase announced by the Company on December 8th, 2017 for additional gross proceeds of $2 million, the total increase of the FT Offering now consists of an additional 28.125 million flow-through shares at a price of $0.08 per share ($2.25 million). The FT Offering is subject to regulatory approval.
In other news, Focus announces a unit offering (the “Unit Offering”) for total gross proceeds of up to $1 million. The Offering consists of up to 12.5 million units (the “Units”) at a price of $0.08 per Unit. Each Unit is comprised of one common share and one common share purchase warrant exercisable at a price of $0.12 per share for a period of 36 months following the closing date. The Unit Offering is subject to regulatory approval.
About Focus Graphite
Focus Graphite Inc. is an advanced exploration and mining company with an objective of producing graphite concentrate at its wholly-owned Lac Knife flake graphite deposit located 27 km south of Fermont, Québec. In a second stage, to meet Quebec stakeholder interests of transformation within the province and to add shareholder value, Focus is evaluating the feasibility of producing value added graphite products including battery-grade spherical graphite.
Focus Graphite is a technology-oriented graphite mining development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc.
For more information about Focus Graphite, please visit www.focusgraphite.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Focus Graphite Inc.
Mr. Gary Economo
Chief Executive Officer
+1-613-241-4040
geconomo@focusgraphite.com
www.focusgraphite.com