Focus Graphite Inc. announced a non-brokered private placement of 450,000 units at CAD 3 per unit for gross proceeds of CAD 1,300,000 on September 28, 2023. Each unit will consist of one common share in the capital of the Company and one transferable share purchase warrant. The entitling the holder thereof to acquire one Common Share at a price of CAD4.00 per share exercisable for a period of twelve months following the closing date.

The closing of the transaction is expected to occur on or about October 31, 2023, and is subject to regulatory approval, including approval of the TSXV.