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     704  0 Kommentare Focus Graphite Closes Additional Flow-Through Financing

    OTTAWA, ONTARIO--(Marketwired - Dec. 31, 2015) -

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) ("Focus" or the "Company") announces the closing of an additional flow-through financing (the "Offering"). The Company issued 1,000,000 flow-through common shares at a price of $0.10 per common share for aggregate proceeds of $100,000.

    In connection with the closing of the Offering, the Company didn't pay any finder's fee. The securities issued in connection with the Offering are subject to a four month hold period ending on May 1st, 2016. The proceeds of this Offering will be allocated to exploration work on the Company's mineral properties in Québec. The Offering is subject to final approval from the TSX Venture Exchange.

    An insider of the Company participated in the Offering and subscribed for an aggregate of 1,000,000 flow-through common shares representing an amount of $100,000. Participation of an insider of the Company in the Offering constitutes a "related party transaction" as defined under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

    About Focus Graphite

    Focus Graphite Inc. is an advanced exploration and development mining company with an objective of producing graphite concentrate at its Lac Knife deposit located south west 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.

    The Lac Knife project hosts a Measured and Indicated Mineral Resource Estimate* of 9.58 million tonnes grading 14.77% graphitic carbon (Cg) (432,000 tonnes Measured @ 23.66% Cg and 9,144,000 tonnes Indicated @ 14.35% Cg) as natural flake graphite with an additional Inferred Mineral Resource Estimate* of 3.1 million tonnes grading 13.25% Cg. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite concentrate.

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    Focus Graphite Closes Additional Flow-Through Financing OTTAWA, ONTARIO--(Marketwired - Dec. 31, 2015) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) ("Focus" or the …