OTTAWA, ON / ACCESSWIRE / October 11, 2024 / Focus Graphite Inc. (TSXV:FMS)(OTCQB:FCSMF)(FRANKFURT:FKC) (the "Company") announced today the closing of the first tranche of the previously announced non-brokered private placement (the "Offering") for gross proceeds of $400,000. The Company issued 5,333,336 units (the "Units") at a price of $0.075 per Unit. Each Unit consists of one common share (a "Common Share") in the capital of the Company and one non-transferable common share purchase warrant (a "Warrant") of the Company. Each whole Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") at an exercise price per Warrant Share of $0.10 for a period of 36 months from the date of issue.

The Company paid a finder's fee of $14,000 and issued 186,667 finders warrant (the "Finders Warrants"). Each Finders Warrants entitles the finder to purchase one Warrant Share for a period of 36 months from the date of issue at a price of $0.10 per Warrant Share.

The Common Shares, Warrants, Finders Warrants and Warrant Shares will have a hold period of four months and one day until February 9, 2025.

The net proceeds of this financing will be used to maintain the Company's existing operations and general working capital requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Focus Graphite

Focus Graphite Inc. is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife flake graphite deposit located 27 km south 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.

Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc.

For more information about Focus Graphite, please visit www.focusgraphite.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.