Focus Graphite Inc. (TSXV:FMS,OTCQX:FCSMF,FWB:FKC) closed a $3 million bought deal flow-through private placement. The Offering was completed by Cormark Securities Inc. and the Company issued a total of 3,300,000 flow-through shares at a price of $0.91 per Unit for total gross procees of $3,003,000.
As quoted in the press release:
Pursuant to the Offering, the Company issued a total of 3,300,000 flow-through shares of the Company (the “Flow-Through Shares”) at a price of $0.91 per Flow-Through Share, for total gross proceeds to the Company of $3,003,000.
Focus Graphite Inc. President and CEO, Gary Economo said:
The closing of this offering leaves our company well-positioned to meet our planned 2013 infill and exploration drilling programs at our Lac Knife, Quebec property. Again, the market has demonstrated its continuing support for our company’s resources, our management and our business objectives as we move towards anticipated production at Lac Knife.