Focus Graphite Announces Non-Brokered Private Placement
Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) has announced a non-brokered private placement of up to 4,000,000 units at $0.075 per unit, aiming to raise up to $300,000. Each unit consists of one common share and one non-transferable warrant, exercisable at $0.10 for 24 months. The offering is expected to close around October 3, 2024, subject to approvals. Proceeds will be used for maintaining existing operations and general working capital. The units will have a four-month hold period and will be sold to accredited investors and insiders. The transaction may constitute a Related Party Transaction, but the company has relied on exemptions from MI 61-101 requirements. Focus Graphite also confirmed that proceeds from a previous placement were used for its drilling program and working capital.
Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) ha annunciato un collocamento privato non intermediato di fino a 4.000.000 di unità a $0,075 per unità, con l'obiettivo di raccogliere fino a $300.000. Ogni unità è composta da un'azione comune e un'opzione non trasferibile, esercitabile a $0,10 per 24 mesi. L'offerta dovrebbe chiudersi intorno al 3 ottobre 2024, soggetta ad approvazioni. I proventi saranno utilizzati per mantenere le operazioni esistenti e il capitale circolante generale. Le unità avranno un periodo di blocco di quattro mesi e saranno vendute a investitori accreditati e insider. La transazione potrebbe costituire una Transazione con Parti Correlate, ma l'azienda ha fatto affidamento su esenzioni dai requisiti di MI 61-101. Focus Graphite ha anche confermato che i proventi di un collocamento precedente sono stati utilizzati per il suo programma di perforazione e il capitale circolante.
Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) ha anunciado un colocación privada no intermediada de hasta 4,000,000 de unidades a $0.075 por unidad, con el objetivo de recaudar hasta $300,000. Cada unidad consta de una acción común y una opción no transferible, ejercitable a $0.10 durante 24 meses. Se espera que la oferta cierre alrededor del 3 de octubre de 2024, sujeto a aprobaciones. Los ingresos se utilizarán para mantener las operaciones existentes y el capital de trabajo general. Las unidades tendrán un período de retención de cuatro meses y se venderán a inversores acreditados y empleados. La transacción puede constituir una Transacción con Partes Relacionadas, pero la empresa se ha apoyado en exenciones de los requisitos de MI 61-101. Focus Graphite también confirmó que los ingresos de una colocación anterior se utilizaron para su programa de perforación y capital de trabajo.
Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA)는 최대 4,000,000개의 유닛을 유닛당 $0.075에 발행하는 비중개 사모 배정을 발표했으며, 최대 $300,000을 모금할 계획입니다. 각 유닛은 하나의 보통주와 24개월 동안 $0.10에 행사할 수 있는 비양도성 워런트로 구성됩니다. 제안은 2024년 10월 3일경에 마감될 예정이며, 승인을 받을 것입니다. 수익금은 기존 운영 유지 및 일반 운영 자본에 사용될 것입니다. 유닛에는 4개월의 보유 기간이 있으며, 인증된 투자자와 내부자에게 판매될 예정입니다. 거래는 관련 당사자 거래일 수있으나 회사는 MI 61-101 요구 사항의 면제를 신뢰했습니다. Focus Graphite는 또한 이전 배정의 수익금이 자사 시추 프로그램 및 운영 자본에 사용되었다고 확인했습니다.
Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) a annoncé un placement privé sans courtier de jusqu'à 4 000 000 d'unités à 0,075 $ par unité, visant à lever jusqu'à 300 000 $. Chaque unité se compose d'une action ordinaire et d'un bon de souscription non transférable, exerçable à 0,10 $ pendant 24 mois. L'offre devrait se clôturer aux alentours du 3 octobre 2024, sous réserve d'approbations. Les produits seront utilisés pour maintenir les opérations existantes et le fonds de roulement général. Les unités auront une période de blocage de quatre mois et seront vendues à des investisseurs agréés et des initiés. La transaction pourrait constituer une transaction avec parties liées, mais l'entreprise s'est appuyée sur des exemptions aux exigences de la MI 61-101. Focus Graphite a également confirmé que les produits d'un placement précédent avaient été utilisés pour son programme de forage et son fonds de roulement.
Die Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) hat eine nicht vermittelte Privatplatzierung von bis zu 4.000.000 Einheiten zu einem Preis von $0,075 pro Einheit angekündigt, mit dem Ziel, bis zu $300.000 zu beschaffen. Jede Einheit besteht aus einer Stammaktie und einem nicht übertragbaren Warrant, der für 24 Monate zu $0,10 ausgeübt werden kann. Die Platzierung wird voraussichtlich am 3. Oktober 2024 abgeschlossen, vorbehaltlich der Genehmigungen. Die Erlöse werden verwendet, um bestehende Operationen aufrechtzuerhalten und allgemeines Betriebskapital zu sichern. Die Einheiten unterliegen einer viermonatigen Haltedauer und werden an akkreditierte Investoren und Unternehmensinsider verkauft. Die Transaktion könnte eine Transaktion mit nahestehenden Parteien darstellen, jedoch hat das Unternehmen auf Ausnahmen von den Anforderungen von MI 61-101 zurückgegriffen. Focus Graphite bestätigte außerdem, dass die Erlöse aus einer vorherigen Platzierung für das Bohrprogramm und das Betriebskapital verwendet wurden.
- Potential to raise up to $300,000 in additional capital
- Warrants provide potential for future funding at $0.10 per share
- No commissions or fees payable, maximizing net proceeds
- Potential dilution for existing shareholders
- Low offering price of $0.075 per unit may indicate weak market perception
- Related Party Transaction may raise concerns about insider influence
OTTAWA ONTARIO / ACCESSWIRE / September 30, 2024 / Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) (the "Company") announced today that it has arranged a non-brokered private placement of up to 4,000,000 units (the "Units") of the Company at a price of
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 October 3, 2024 (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.
It is anticipated that the closing of the Offering will constitute a Related Party Transaction (as the term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")) because insiders of the Company will participate. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Offering as the fair market value (as determined under MI 61-101) of the Offering is below
The Company is also pleased to announce that further to the closing of the private placement previously disclosed in its May 7, 2024 News Release, the proceeds raised in that offering were used for the Company's drilling program and working capital.
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
Focus Graphite Inc. is an advanced exploration company with an objective of producing flake 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 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.
Focus Graphite Investor Contact:
Focus Graphite Inc.
Judith Mazvihwa-MacLean
CFO
(613) 581-4040
jmazvihwa@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.
Forward-Looking Statement
This News Release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE: Focus Graphite, Inc.
View the original press release on accesswire.com
FAQ
What is the purpose of Focus Graphite's (FCSMF) private placement announced on September 30, 2024?
How many units is Focus Graphite (FCSMF) offering in its September 2024 private placement?
What is the price per unit in Focus Graphite's (FCSMF) September 2024 private placement?
When is the expected closing date for Focus Graphite's (FCSMF) September 2024 private placement?
