Focus Graphite closes first tranche of private placement investment with Alumina Partners
2021-07-07 13:47:38 [Print]
Canadian-based Focus Graphite Inc. ("the Company") announced on July 5 it has completed due diligence with Alumina Partners (Ontario) Ltd. and closed a first tranche of private placement investment pursuant thereto.
Alumina is prepared to invest up to CAD$12 million in the company over a 24-month period for working capital and general corporate purposes, including to advance both of the Company's flake graphite projects in Quebec.
In the first tranche that closed on July 2nd, 2021, the Company completed a private placement for gross proceeds of $200,000 from Alumina, with Alumina receiving 2,962,963 units of the Company consisting of a common share priced at $0.0675 per share and warrants to purchase 1,481,482 common shares, exercisable at $0.1125 per share for 36 months.
Alumina is prepared to invest up to CAD$12 million in the company over a 24-month period for working capital and general corporate purposes, including to advance both of the Company's flake graphite projects in Quebec.
In the first tranche that closed on July 2nd, 2021, the Company completed a private placement for gross proceeds of $200,000 from Alumina, with Alumina receiving 2,962,963 units of the Company consisting of a common share priced at $0.0675 per share and warrants to purchase 1,481,482 common shares, exercisable at $0.1125 per share for 36 months.
