On December 29, 2022, Focus Graphite Inc. closed the transaction. The company amended the transaction and issued 500,000 units at an issue price of CAD 0.40 per unit for gross proceeds of up to CAD 200,000 and up to 988,640 flow- through common shares at an issue CAD 0.65 per share for gross proceeds of up to CAD 642,616 for aggregate proceeds of CAD 842,616. The securities issued in connection with the closing of the offering are subject to a four-month hold period expiring on April 30, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement. The transaction included participation from two placees.