Fokus Mining Corporation announced a non-brokered private placement of up to 500,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 25,000 and 5,030,667 flow-through units at a price of CAD 0.06 per unit for the gross proceeds of CAD 301,840.02 for the aggregate gross proceeds of CAD 326,840.02 on October 26, 2023. Each of the units is comprised of one common share and one common share purchase warrant and each of the Flow-Through unit is comprised of one common share and one-half of a common share purchase warrant. Each unit warrant entitles its holder to acquire one additional common share at a price of CAD 0.08 for a period of three years from the closing date and each Flow-through unit warrant entitles its holder to acquire one additional common share at a price of CAD 0.08 for a period of two years from the closing date. In connection with the private placement, the company paid cash commissions to three securities dealers in an aggregate amount of CAD 18,200 and granted finders' warrants to one of the securities dealers entitling it to acquire up to 40,000 additional common shares of the company at a price of CAD 0.08 per share until October 25, 2026 and to another one of the securities dealers entitling it to acquire up to 20,000 additional common shares of the company at a price of CAD 0.08 per share until October 25, 2025. Additional closings of the private placement may be held until November 13, 2023, subject to a maximum of an additional 4,500,000 units at a price of CAD 0.05 per unit and a maximum of an additional 3,969,333 FT units at a price of CAD 0.06 per FT unit to subscribers in Québec, for total maximum gross proceeds of CAD 463,159.98.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction will include participation from eight placees including pro group involvement of one pro group for 250,000 flow-through shares. The company will pay finder's fees of CAD 18,200 cash and 60,000 finder's warrants. Our of 60,000 finder's warrants, each of the 40,000 finder's warrants entitles the holder to purchase one common share at the price of CAD 0.08 until October 25, 2026, and each of the other 20,000 finder's warrants entitles the holder to purchase one common share at the price of CAD 0.08 until October 25, 2025.