Ms. Judith Mazvihwa-Maclean reports

FOCUS GRAPHITE CLOSES NON-BROKERED FLOW-THROUGH OFFERING

Focus Graphite Inc. has closed its previously announced non-brokered flow-through private placement for gross proceeds of $5.2-million. The company has issued 57,777,780 flow-through common shares at a price of nine cents per flow-through share.

In connection with the closing of the offering, the company paid cash finders' fees totalling $357,000 and issued 3,966,666 non-transferable finders' warrants. Each finder's warrant entitles the holder to acquire one non-flow-though common share of the company at a price of 15 cents per common share until Dec. 22, 2022.

The securities issued in connection with the closing of the offering are subject to a four-month hold period expiring on April 23, 2022. The offering is subject to the final approval of the TSX Venture Exchange.

The gross proceeds from the sale of FT shares will be used for exploration expenditures on the company's Lac Tetepisca graphite project located in the Cote-Nord administrative region of northeastern Quebec. Two insiders of the company participated in the offering and subscribed for an aggregate of 1,111,111 flow-through shares representing an aggregate amount of $100,000. Participation of insiders of the company in the offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25 per cent of the company's market capitalization. The company did not file a material change report 21 days prior to the closing of the offering as the details of the participation of insiders of the company had not been confirmed at that time.

About Focus Graphite Inc.

Focus Graphite is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife flake graphite deposit located 27 kilometres south of Fermont, Que. 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 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.

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