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OTTAWA, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Focus Graphite Inc. (TSX VENTURE:FMS) (OTCQX:FCSMF) (FRANKFURT:FKC) (“Focus” or the “Company”) is pleased to announce a third closing of a non-brokered private placement (the “Offering”) at which it issued an aggregate of 3,125,000 flow-through common shares of the Company (the “Flow-Through Shares”) at a price of $0.08 per Flow-Through Share, for gross proceeds of $250,000.
In connection with the closing of the FT Offering, the Company paid cash finder’s fees totaling $15,000. The securities issued in connection with the closing of the FT Offering are subject to a four-month hold period expiring on April 23, 2018.
In total, the Company has raised gross proceeds of $3,492,048 and issued a total of 43,650,600 Flow-Through Shares under the Offering, which Offering remains subject to the final approval of the TSX Venture Exchange.
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 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