Focus Graphite amends stock option plan

OTTAWA, Ontario, Canada—Focus Graphite Inc. (TSXV: FMS) (“Focus Graphite” or the “Company”) announces that on February 23, 2023 the Board of Directors adopted an amended stock option plan (the “Amended Option Plan”) which will replace the Company’s current option plan.

The Amended Option Plan increases the number of shares reserved for issuance pursuant to the exercise of stock options from 11,033,278 to 11,504,920, representing 20% of the issued and outstanding shares of the Corporation as of the date the Amended Option Plan was adopted.

The Amended Option Plan is subject to approval by the shareholders of the Company at the meeting to be held on April 19, 2023 and final TSX-V approval.

About Focus Graphite

Focus Graphite Inc. is an advanced exploration company with an objective of producing flake

graphite concentrate at its wholly owned Lac Knife and Lac Tetepisca flake graphite projects located in the Cote-Nord administrative region of Quebec. In a second stage, to meet Quebec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is 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 a significant equity position in graphene applications developer Grafoid Inc. For more information about Focus Graphite, please visit www.focusgraphite.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information about Focus Graphite and the Company’s Lac Tetepisca and Lac Knife projects, please visit Focus’s website at  www.focusgraphite.com or contact:

Kimberly Darlington
Communications, Focus Graphite
kdarlington@focusgraphite.com

Judith Mazvihwa-MacLean
CFO, Focus Graphite
jmazvihwa@focusgraphite.com
(613) 581-4040

NT4