Deal funds exploration; shares sold at C$0.10 each, an 11.11% premium
By Devika Patel
Knoxville, Tenn., Dec. 23 – Focus Graphite Inc. said it raised C$1.43 million in a private placement of stock.
The company sold 14,333,800 flow-through common shares at C$0.10 per share. The price per share reflects an 11.11% premium to the Dec. 22 closing share price of C$0.09.
Focus paid a C$114,670 finder’s fee and issued 1,146,704 warrants to Secutor Capital Management Corp.
Proceeds will be used for exploration.
Metanor is a gold mining company based in Val d’Or, Quebec.
| Issuer: | Focus Graphite Inc.
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| Issue: | Flow-through common shares
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| Amount: | C$1,433,380
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| Shares: | 14,333,800
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| Price: | C$0.10
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| Warrants: | No
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| Settlement date: | Dec. 23
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| Stock symbol: | TSX Venture: FMS
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| Stock price: | C$0.09 at close Dec. 22
|
| Market capitalization: | C$10.25 million
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