Business
Focus Graphite Formalizes Marketing Arrangement With Grafoid Inc.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OTTAWA, March 13, 2018 (GLOBE NEWSWIRE) -- Focus Graphite Inc.
About this update from Focus Graphite Inc.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OTTAWA, March 13, 2018 (GLOBE NEWSWIRE) -- Focus Graphite Inc. (TSX VENTURE:FMS) (OTCQX:FCSMF) (FRANKFURT:FKC) (“Focus” or the “Company”) is pleased to announce that it has executed a formal marketing agreement (the “Marketing Agreement”) with Grafoid Inc. (“Grafoid”). Under the terms of the Marketing Agreement, Focus has engaged Grafoid to provide marketing and product development and related services using its technical and industry knowledge and expertise. Grafoid will (i) provide marketing and product development and related services for Focus’ business projects (including the Lac Knife crystalline flake graphite deposit); (ii) assist in the development of offtake agreements with third parties; (iii) assist in the technological development of graphite products; (iv) assist Focus in its efforts to secure a $175-million financing to be used for capital expenditure funding to support the Lac Knife project; and (v) provide other services as may be agreed upon between the parties. Terms of the financing have not yet been determined. The Marketing Agreement is subject to applicable regulatory approval. The Marketing Agreement formalizes the arrangement between the parties that has been in effect since October 1, 2017, and will continue until terminated. Focus will pay Grafoid $200,000 per month for the services provided, as well as a 3% success fee for completing the $175-million capital expenditure financing. Either party may terminate the Marketing Agreement upon 30 days’ written notice. About Focus Graphite Focus Graphite Inc. is an advanced exploration and mining company with an objective of producing 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 mining 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 Graphi...