Focus Graphite concludes C$337,025 of C$4 million sale of stock, units

Non-brokered deal sells stock at C$0.175 and units at C$0.15 per unit

By Devika Patel

Knoxville, Tenn., May 5 – Focus Graphite Inc. said it raised C$337,025 in the second tranche of its C$4 million non-brokered private placement of stock and units. The deal raised C$1.53 million on April 4.

The company is selling 11,428,572 flow-through common shares at C$0.175 apiece and 13,333,334 units of one common share and a warrant at C$0.15 per unit. Each warrant is exercisable at C$0.20 for four years, with the first-tranche warrants expiring on April 1, 2020 and the second-tranche warrants expiring on May 5, 2020.

The price per share is a 12.5% discount to the April 1 closing share price of $0.20. The warrant strike price is identical to that price.

In the initial tranche, Focus Graphite sold 7,167,714 shares and 1,848,000 units. It sold 2,246,835 units in the second tranche.

The Ottawa company mines graphite with an objective to produce lithium ion batteries.

Issuer:	Focus Graphite Inc.
Issue:	Flow-through common shares, units of one common share and a warrant
Amount:	C$4 million
Agent:	Non-brokered
Settlement dates:	April 4 (for C$1,531,550), May 5 (for C$337,025)
Stock symbol:	TSX Venture: FMS
Stock price:	C$0.20 at close April 1
Market capitalization:	C$33.6 million
Shares
Amount:	C$2 million
Shares:	11,428,572
Price:	C$0.175
Warrants:	No
Units
Amount:	C$2 million
Units:	13,333,334
Price:	C$0.15
Warrants:	One warrant per unit
Warrant expiration:	Four years, April 1, 2020, May 5, 2020
Warrant strike price:	C$0.20

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