Focus Graphite Inc. announced a non-brokered private placement of up to 500,000 units at an issue price of CAD 0.40 per unit for gross proceeds of up to CAD 200,000 and up to 987,692 flow- through common shares at an issue CAD 0.65 per share for gross proceeds of up to CAD 642,000 for aggregate proceeds of CAD 842,000 on December 23, 2022. Each Unit will consist of one common share and one-half of one non-transferable common share purchase warrant of the Company. Each Warrant issued as part of the unit will entitle the holder thereof to acquire one Common Share at an exercise price per Common Share of CAD 0.65 for a period of 12 months from the closing of the transaction.

The Offerings are expected to close in tranches, with the first tranche to close as soon as possible subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The units and flow-through Shares will be sold on a private placement basis to accredited investors pursuant to the "accredited investor" exemption or other available and agreed upon exemptions from prospectus requirements. The units and flow-Through Shares, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.

No finderÆs fee is payable on the transaction.