OTTAWA - December 2013 - Focus Graphite Inc. (TSX-V: FMS; OTCQX: FCSMF; FSE: FKC) (the "Company") today announced that it has signed an Acceptance Agreement for the future of the Lac Knife-sponsored graphite resources.
The strategic agreement to purchase up to 40.000 tons per year was made on 19. December 2013 signed by the company and an industrial consortium of heavy industry, producer and technology companies in Dalian City, Liaoning Province, China.
The ten-year agreement applies to the supply of up to 40.000 tons of graphite (large flake and medium flake size) from the Focus Graphite plant at Lac Knife, Quebec, Canada.
The detailed terms of the contract, including pricing and the right to extend the contract, will not be disclosed for competitive reasons.
"We at Focus Graphite are very pleased with the signing of our first acceptance agreement. This agreement is groundbreaking for Lac Knife's future development, "said Don Baxter, President and Chief Operating Officer of Focus Graphite.
"This agreement is not only the first of its kind, it is also significant in that it encompasses the full range of Lac Knife products, from small flake to extra large flake graphite, paving the way for the value-added technology products made from them represents, "said Baxter.
"This agreement underscores our long-term goal of becoming a competitor in the Chinese market," he added.
This agreement has been finalized without a feasibility study (currently in progress) and there is therefore no assurance that the above objectives can be achieved.
About Focus Graphite
Focus Graphite Inc. is an emerging, mid-sized junior mining developer and developer and provider of technology solutions and business innovation. Focus owns the Lac Knife graphite deposit, located in the Côte-Nord region of northeastern Quebec. The Lac Knife project hosts NN 43 101 compliant mineral resources of 4,9 million tonnes containing 15,8% graphitic carbon (Cgr) in the form of crystalline graphite and 3,0 inferred mineral resources * of 15,6% Cgr in the form of crystalline graphite. Focus's goal is to become a market leader as a cost-effective producer of high-quality technology-grade graphite. On the 29. In October 2012, the company released the results of a preliminary economic assessment ("PEA") for the Lac Knife project, which has confirmed the project's very positive potential for graphite production. As a technology-driven company committed to securing long-term value for its shareholders, Focus is also involved in the development of graphene applications and patents through Grafoid Inc.
Don Baxter, P.Eng, President and COO of Focus Graphite Inc., has reviewed the technical content of this news release as a Qualified Person under NI 43-101.
Forward-looking statements
This presentation contains forward-looking information under Canadian securities laws. All information contained herein that is not uniquely historical in nature could be forward-looking information. In general, this forward-looking information can be identified by the use of forward-looking terms, such as "Plans," "expects," "does not expect," "anticipates," "budgeted," "estimates," "forecasts," "intends," "does not intend," "believes," and " Modifications of such terms and phrases or statements that "may", "could", "become" or "become" certain actions, events or results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the actual results, activities, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking information, including without limitation but not limited to: (i) volatile stock prices; (ii) the global markets and the economic situation; (iii) the possibility of depreciation and impairment; (iv) the risk associated with the exploration, development and operation of mineral deposits; (v) the risk associated with the acquisition of ownership of mineral properties and assets; (vi) risks associated with joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks that could arise during exploration, development and production; (ix) the competition for the resulting issuer in securing senior personnel and financings; (x) access to an appropriate infrastructure to support mining, processing, development and exploration; (xi) the risks associated with changes in regulatory mining regulations for the resulting issuer; (xii) the risks associated with the different environmental conditions to which the resulting issuer is subject; (xiii) the risks associated with regulatory and approval delays; (xiv) risks associated with potential conflicts of interest; (xv) the reliability of key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution from the issue of ordinary shares; (xviii) the risk that the Company will not anticipate the resolution of the dividends in the short term; (xix) the risk of litigation; and (xx) risk management. Forward-looking information is based on assumptions that management considers reasonable at the time such statements are made, including, but not limited to, ongoing exploration work, the absence of material changes in metal prices, exploration and development plans that are completed on schedule and deliver the corresponding results Obtaining the required regulatory approvals and other assumptions and factors described herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those in the forward-looking information, there may be other factors that may produce results that are not believed, appreciated or intended. There can be no assurance that any forward-looking information will prove to be accurate. Actual results and future events may differ materially from such forward-looking information. Such forward-looking information has been provided to help investors understand the Company's business, operations and exploration plans and may not be suitable for other purposes. Therefore, readers should not rely on forward-looking information for their investments. Forward-looking information is expressed as of the date of this press release, and the company is under no obligation to update such forward-looking information unless required by applicable securities laws.
Contact:
Don Baxter, P. Eng
President & Chief Operating Officer
705-789-9706
ppgad@pucrs.br
www.focusgraphite.com
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
