Focus Graphite Increases Private Placement Offering

Focus Graphite Inc. has announced an increase in its non-brokered private placement offering. Initially set at $500,000, the offering has now been raised to $525,000. This decision follows previous announcements on September 30 and October 2, 2024. An additional 333,334 units will be issued at a price of $0.075 per unit, bringing the total to 7,000,000 units.

Each unit will include one common share and one non-transferable common share purchase warrant. Warrants allow holders to purchase an additional common share at $0.10 within 36 months of the closing date, anticipated around October 10, 2024.

The funds from this offering are earmarked for maintaining ongoing operations and satisfying general working capital needs. The transaction, involving company insiders, qualifies as a related party transaction under MI 61-101 regulations.