Focus Graphite closes final tranche of financing
FOCUS GRAPHITE CLOSES PRIVATE PLACEMENT
Focus Graphite Inc. has closed the final tranche of its previously announced non-brokered private placement. In total, following the closing of the two tranches of the offering, the company issued 4,708,000 units at a price of 50 cents per unit for total gross proceeds of $2,354,000. The closing of the final tranche consisted of the issuance of 847,000 units ($423,500). Each unit consists of one common share and one warrant. Each warrant entitles the holder to acquire one additional common share of the company at a price of 60 cents per share until Feb. 9, 2019.
In connection with the closing of the final tranche of the offering, the company paid finders’ fees totalling $29,645 and issued 59,290 non-transferable warrants with each warrant entitling the holder to acquire one common share of the company at a price of 60 cents per share until Feb. 9, 2017. The securities issued in connection with the closing of the final tranche are subject to a four-month hold period expiring on June 10, 2015. The offering is subject to the final approval of the TSX Venture Exchange.
http://www.focusgraphite.com/news-releases/
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