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Focus Graphite Increases Offering on Non-Brokered Private Placement & Approval of Amended Equity Incentive Plan

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Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) has increased its private placement offering from $300,000 to $500,000, issuing an additional 2,666,666 Units at $0.075 per Unit for a total of 6,666,666 Units. Each Unit consists of one common share and one non-transferable warrant, exercisable at $0.10 for 24 months. The proceeds will fund existing operations and working capital. The offering is expected to close on October 4, 2024, subject to approvals.

Additionally, shareholders have approved the Company's amended 20% fixed equity incentive plan, increasing available options to 12,492,834 and allowing for Restricted Share Units. The plan is subject to TSX-V approval.

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) ha aumentato la sua offerta di collocamento privato da $300,000 a $500,000, emettendo ulteriori 2,666,666 Unità a $0.075 per Unità per un totale di 6,666,666 Unità. Ciascuna Unità è composta da un'azione comune e un warrant non trasferibile, esercitabile a $0.10 per 24 mesi. I proventi finanzieranno le operazioni esistenti e il capitale circolante. Si prevede che l'offerta si chiuda il 4 ottobre 2024, soggetta ad approvazioni.

Inoltre, gli azionisti hanno approvato il piano di incentivazione azionaria fisso del 20% modificato della Società, aumentando le opzioni disponibili a 12,492,834 e consentendo l'assegnazione di Unità Azionarie Riservate. Il piano è soggetto all'approvazione del TSX-V.

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) ha aumentado su oferta de colocación privada de $300,000 a $500,000, emitiendo 2,666,666 Unidades adicionales a $0.075 por Unidad para un total de 6,666,666 Unidades. Cada Unidad consiste en una acción común y una opción no transferible, ejercitable a $0.10 durante 24 meses. Los ingresos se destinarán a las operaciones existentes y al capital de trabajo. Se espera que la oferta cierre el 4 de octubre de 2024, sujeta a aprobaciones.

Además, los accionistas han aprobado el plan de incentivos de equidad fija del 20% enmendado de la Compañía, aumentando las opciones disponibles a 12,492,834 y permitiendo Unidades de Acciones Restringidas. El plan está sujeto a la aprobación de TSX-V.

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA)는 사모 배급 제공 금액을 $300,000에서 $500,000로 늘렸으며, 추가로 2,666,666 유닛을 $0.075에 발행하여 총 6,666,666 유닛을 만듭니다. 각 유닛은 하나의 보통주와 전환 불가능한 워런트로 구성되어 있으며, 24개월 동안 $0.10에 행사할 수 있습니다. 수익금은 기존 운영과 운영 자본을 지원하는 데 사용됩니다. 이 제공은 2024년 10월 4일에 마감될 예정이며, 승인이 필요합니다.

또한, 주주들은 회사 수정된 20% 고정 주식 인센티브 계획을 승인했습니다, 옵션 가능 수를 12,492,834로 늘리고 제한 주식 유닛을 허용합니다. 이 계획은 TSX-V 승인을 받아야 합니다.

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) a augmenté son offre de placement privé de 300,000 $ à 500,000 $, en émettant 2,666,666 unités supplémentaires à 0,075 $ par unité pour un total de 6,666,666 unités. Chaque unité se compose d'une action ordinaire et d'un bon de souscription non transférable, exerçable à 0,10 $ pendant 24 mois. Les produits financeront les opérations existantes et le fonds de roulement. L'offre devrait se clôturer le 4 octobre 2024, sous réserve d'approbation.

De plus, les actionnaires ont approuvé le plan d'incitation en actions fixe de 20% modifié de la société, augmentant le nombre d'options disponibles à 12,492,834 et permettant les unités d'actions restreintes. Le plan est soumis à l'approbation de la TSX-V.

Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) hat sein Angebot für die Privatplatzierung erhöht von $300,000 auf $500,000, zusätzlich wurden 2,666,666 Einheiten zu $0.075 pro Einheit ausgegeben, was insgesamt 6,666,666 Einheiten ergibt. Jede Einheit besteht aus einer Stammaktie und einem nicht übertragbaren Warrant, der für 24 Monate zu $0.10 ausgeübt werden kann. Die Erlöse werden bestehende Betriebsabläufe und das Betriebskapital finanzieren. Es wird erwartet, dass die Platzierung am 4. Oktober 2024 abgeschlossen wird, vorbehaltlich Genehmigungen.

Außerdem haben die Aktionäre den geänderten 20%-Aktienanreizplan des Unternehmens genehmigt, wodurch die verfügbaren Optionen auf 12,492,834 erhöht und beschränkte Aktienoptionen ermöglicht werden. Der Plan unterliegt der Genehmigung der TSX-V.

Positive
  • Increased private placement offering from $300,000 to $500,000
  • Additional funding for existing operations and working capital
  • Shareholder approval of amended equity incentive plan, increasing available options
Negative
  • Potential dilution of existing shareholders due to increased share issuance
  • Warrants exercisable at $0.10, which is above the current Unit price of $0.075

OTTAWA, ON / ACCESSWIRE / October 2, 2024 / Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FRA) (the "Company") announced today it is increasing the maximum offering of its private placement previously announced on September 30, 2024 (the "Offering"). The Offering will be increased from $300,000 to $500,000 and the issuance of an additional 2,666,666 Units at a price of $0.075 per Unit for a total of 6,666,666 Units. A finder's fee of up to 7% cash and 7% finder's warrants, exercisable on the same terms of the Warrants offered as part of the Offering may be paid by the Company on a portion of the Offering.

Each Unit will continue to 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 $0.10 for a period of 24 months from the closing of the Offering (the "Closing Date").

The net proceeds of this financing will be used to maintain the Company's existing operations and general working capital requirements.

The Offering is now expected to close on or about October 4, 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 25% of the Company's market capitalization (as determined in accordance with MI 61-101).

The Company also announces that the shareholders approved the Company's amended 20% fixed equity incentive plan at the annual and special meeting of the shareholders held on August 29, 2024. The amended plan was approved by the board of directors on July 16, 2024. The amended plan increases the number of options available to be issued to eligible optionees to 12,492,834 and permits the Board to issue Restricted Share Units to eligible recipients. A copy of the plan was appended to the Company's Information Circular dated July 16, 2024 and is available under the Company's profile on SEDAR+. The amended plan is subject to TSX-V approval.

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

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 new size of Focus Graphite's (FCSMF) private placement offering?

Focus Graphite has increased its private placement offering from $300,000 to $500,000, issuing a total of 6,666,666 Units at $0.075 per Unit.

When is the expected closing date for Focus Graphite's (FCSMF) private placement?

The private placement offering is expected to close on or about October 4, 2024, subject to necessary approvals and customary closing conditions.

What changes were made to Focus Graphite's (FCSMF) equity incentive plan?

The amended plan increases the number of options available to be issued to 12,492,834 and permits the Board to issue Restricted Share Units to eligible recipients.

What is the exercise price and duration of the warrants in Focus Graphite's (FCSMF) offering?

Each warrant entitles the holder to acquire one Common Share at an exercise price of $0.10 for a period of 24 months from the closing date of the offering.

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