Focus Graphite Inc. Closes Private Placement

Press Release

OTTAWA, May 7, 2024 – Focus Graphite Inc. (TSX-V:FMS) (“Focus” or the “Company”) is pleased to announce it has closed a non-brokered private placement (the “Offering”) for total gross proceeds of $450,001.50.

As part of the Offering, the Company issued 2,352,950 common shares on a flow-through basis (the “Flow-Through Share”) at a price of $0.17 per Flow-Through Share and 312,500 units (the “Units”) at a price of $0.16 per Unit to accredited investors. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (a “Warrant”). Each Warrant entitles its holder to purchase one (1) common share at a price of $0.20 per common share until May 6, 2027.

The securities issued in connection with the closing of the Offering are subject to a four-month hold period expiring on September 7, 2024.

In connection with the closing of the Offering, the Company paid a cash finder’s fee totaling $27,000.09 and issued 159,927 warrants (the “Finder Warrants”). Each Finder Warrant entitles the finder to purchase one (1) common share at a price of $0.20 per common share until May 6, 2027.

The Offering is subject to the final approval of the TSX Venture Exchange.

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 and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. In a second stage, to meet Québec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is evaluating the feasibility of producing value-added specialty 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 and the Company’s Lac Tétépisca and Lac Knife projects, please visit Focus’s website at  www.focusgraphite.com or contact:

Kimberly Darlington
Communications, Focus Graphite
kdarlington@focusgraphite.com

Judith Mazvihwa-MacLean
CFO, Focus Graphite
jmazvihwa@focusgraphite.com
(613) 581-4040

IBF4