Ms. Judith Mazvihwa-MacLean reports

FOCUS GRAPHITE ANNOUNCES TSXV ACCEPTANCE OF SHARE CONSOLIDATION

The TSX Venture Exchange has approved a share consolidation of the outstanding capital of the company of the company's common shares on the basis of 10 preconsolidation common shares for one postconsolidation common share.

The consolidation will be effective at the open of the market on June 17, 2022. The company will not change its name as part of the consolidation but will issue new share certificates under a new Cusip number, which is 34416E874 (ISIN: CA34416E8743). The company's common shares will continue to trade on the exchange under its current symbol, FMS.

The company currently has 551,663,902 common shares issued and outstanding. As at the effective date, the company will have approximately 55,166,390 postconsolidated common shares issued and outstanding.

Holders of common shares who hold uncertificated shares (that is shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book-entry account(s) electronically adjusted by the company's transfer agent or, in the case of beneficial shareholders, by their brokerage firms, banks, trusts or other nominees. Such holders generally do not need to take any additional actions to exchange their preconsolidation common shares for postconsolidation common shares.

Registered shareholders holding share certificates have been mailed a letter of transmittal advising of the consolidation and instructing them to surrender the share certificates representing preconsolidation common shares for replacement certificates or a direct registration advice representing their postconsolidation common shares. Until surrendered for exchange, each share certificate formerly representing preconsolidation common shares will be deemed to represent the number of whole postconsolidation common shares to which the holder is entitled as a result of the consolidation.

About Focus Graphite Inc.

Focus Graphite is an exploration and development company that seeks to produce flake graphite concentrate at its wholly owned Lac Knife and Lac Tetepisca flake graphite projects located in the Cote-Nord administrative region of Quebec. As part of its mission to build long-term, sustainable shareholder value, Focus is also evaluating the feasibility of producing value-added specialty 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 an equity position in graphene applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally and ethically responsible manner.

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