Deal conducted by Cormark Securities to raise funds for exploration
By Devika Patel
Knoxville, Tenn., Jan. 31 - Focus Graphite Inc. said it settled a C$3 million private placement of stock. The deal priced on Jan. 16.
The company sold 3.3 million flow-through common shares at C$0.91 per share. The price per share is a 19.74% premium to the Jan. 15 closing share price of C$0.76.
Cormark Securities Inc. was the underwriter.
Proceeds will be used for exploration.
The Ottawa, Ont., company explores for flake graphite, rare earth elements and precious and base metals.
| Issuer: | Focus Graphite Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3,003,000
|
| Shares: | 3.3 million
|
| Price: | C$0.91
|
| Warrants: | No
|
| Underwriter: | Cormark Securities Inc.
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: FMS
|
| Stock price: | C$0.76 at close Jan. 15
|
| Market capitalization: | C$69.06 million
|
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