OTTAWA, ON / ACCESS Newswire / February 5, 2025 / Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FSE:FKC) ("Focus" or the "Company"), announced today that it has arranged a non-brokered private placement of up to 5,000,000 units (the "Units") of the Company at a price of $0.10 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of up to $500,000 (the "Offering"). Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one non-transferable common share purchase warrant (each whole warrant, a "Warrant") of the Company. Each whole Warrant will entitle the holder thereof to acquire one Common Share at an exercise price per Common Share of $0.20 for a period of 24 months from the closing of the Offering (the "Closing Date").
No commissions or fees are payable in connection with this financing. The net proceeds of this financing will be used to maintain the Company's existing operations and general working capital requirements.
The Offering is expected to close on or about February 15, 2025 (the "Closing Date"), and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange, as well as the satisfaction of other customary closing conditions. The Units will be sold on a private placement basis to accredited investors and insiders of the Company pursuant to the "accredited investor" exemption or other available and agreed upon exemptions from prospectus requirements. The Units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Focus Graphite Inc.
Focus Graphite Inc. is an advanced materials company developing sustainable mining and technology innovations. At the heart of our operations is the Lac Knife flake graphite deposit, known for its high purity and grade-ideal for applications in the military, defense, and green energy revolutions. Currently advancing through Canada's mine permitting process, Focus Graphite is on the verge of transforming this resource into a viable supplier of critical mineral.
Our proprietary, environmentally sustainable processing technologies ensure a green, chemical-free pathway from mine to market. The Company's proprietary silicon-enhanced spheroidized graphite patent technology is aimed at improving battery performance. We specialize in producing advanced, high-purity graphite materials tailored for diverse industries, including EV batteries, military applications, and high-tech manufacturing.
Focus Graphite's commitment extends beyond resource extraction-we are actively seeking partnerships with industry leaders, academic institutions, and government bodies to try and accelerate the commercialization of advanced materials and technologies derived from our flagship project. As a proud Canadian company, we are dedicated to contributing to North America's secure and sustainable critical minerals supply chain.
For more information on Focus Graphite Inc. please visit https://focusgraphite.com/
Investors Contact:
Dean Hanisch
CEO, Focus Graphite Inc.
dhanisch@focusgraphite.com
613-612-6060
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated," and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, the Company's plans to advance its Lac Knife and Tétépisca projects through permitting, resource development, and commercialization efforts; the anticipated completion of an updated NI 43-101 Mineral Resource Estimate for Tétépisca; the potential for Lac Knife to become a key supplier of high-purity flake graphite; the Company's ability to secure off-take agreements and strategic partnerships; the anticipated performance and scalability of the Company's proprietary silicon-enhanced spheroidized graphite technology; the expected benefits of its environmentally friendly purification process; and the Company's positioning as a key player in securing North American critical mineral supply chains.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the Company's ability to obtain necessary permits and approvals on anticipated timelines, the successful execution of exploration and development programs, the viability and scalability of its proprietary graphite processing technologies, the ability to attract commercial partners, and the continuation of favorable market conditions for graphite demand in energy storage, electric vehicles, and other advanced industrial applications.
Although forward-looking information is based on reasonable assumptions made by the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks related to permitting and regulatory approvals; delays or challenges in the exploration, development, or commercialization of the Company's projects and technologies; changes in graphite market demand and pricing; technological and operational challenges in scaling up proprietary processing technologies; financing risks; and the general risks inherent in the exploration and development of mineral deposits.
The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information.
The TSX Venture Exchange and OTCQX have not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Focus Graphite, Inc.
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