Ottawa, Ontario--(Newsfile Corp. - October 15, 2025) - Focus Graphite Inc. (TSXV: FMS) (OTCQB: FCSMF) (FSE: FKC0) ("Focus" or the "Company"), is pleased to announce the appointment of Mr. Jean-Francois Perrault as Strategic Advisor. A highly respected Quebec-based capital markets executive, Mr. Perrault will provide strategic and financial guidance as Focus advances its flagship Lac Knife and Lac Tetepisca graphite projects towards mine permitting and development.Mr. Perrault brings more than 30 years of e ...

Core Insights - Electra Battery Materials Corporation has nominated Jody Thomas to its Board of Directors, enhancing its leadership team with expertise in national security and defense [1][2][4] - Ms. Thomas's extensive background in public service and risk management is expected to support Electra's strategic priorities in developing a secure supply chain for critical minerals in North America [2][3] - The nomination of Ms. Thomas follows other recent appointments aimed at strengthening the Board's strategic depth and operational expertise [4] Company Strategy - Electra is focused on establishing North America's only cobalt sulfate refinery and aims to onshore critical minerals refining to reduce reliance on foreign supply chains [5] - The company's strategy includes nickel refining and battery recycling, with growth projects such as integrating black mass recycling and exploring cobalt and nickel production opportunities in North America [5]

Core Viewpoint - Electra Battery Materials Corporation is undertaking a US$30 million financing as part of its financial restructuring to support the commissioning of North America's first battery-grade cobalt sulfate refinery in Ontario [1][3]. Financing Details - The company has engaged Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. as co-lead agents for a private placement offering, aiming to sell a minimum of 40,000,000 units at US$0.75 per unit, totaling at least US$30 million [2]. - Each unit consists of one common share and one warrant, allowing the purchase of an additional common share at US$1.25 for a period of 36 months post-offering [4]. - The offering is backed by a US$10 million conditional commitment from lenders, with existing shareholders given the opportunity to participate on the same terms as new investors [5]. Use of Proceeds - Net proceeds from the offering will be allocated to the completion and ramp-up of the cobalt refinery, the black mass recycling program, repayment of US$2 million in promissory notes, restructuring expenses, and general working capital [6]. - If gross proceeds exceed US$34.5 million, excess funds will be used to repurchase senior secured convertible notes from lenders [6]. Timeline and Conditions - The offering is expected to close around October 15, 2025, subject to shareholder approval and other regulatory conditions [7]. - A special meeting for shareholder approval is anticipated on or around October 9, 2025 [7]. Agent Compensation - The company will pay agents a cash commission of 6% of gross proceeds and issue non-transferable broker warrants equal to 6% of units sold, with reduced commissions for certain units sold under the lender commitment [8]. Regulatory Compliance - The units are offered on a private placement basis in Canada and outside Canada, adhering to specific securities regulations [9][10]. - Common shares from the sale of units under the Listed Issuer Financing Exemption will not be subject to a hold period, while other securities will have a statutory hold period of four months and one day [11]. Company Overview - Electra Battery Materials is focused on advancing North America's critical minerals supply chain for lithium-ion batteries, with plans for cobalt sulfate refining, nickel refining, and battery recycling [13].

Core Points - Electra Battery Materials Corporation has signed a term sheet for C$17.5 million in funding from Invest Ontario to support the construction of its cobalt sulfate refinery in Temiskaming Shores, which will be the first facility in North America dedicated to producing battery-grade cobalt sulfate [1][2] - The refinery is expected to produce 6,500 tonnes of battery-grade cobalt sulfate annually, sufficient to support the production of up to 1 million electric vehicles per year, thereby reducing reliance on foreign-controlled supply chains [2][3] - The total estimated investment for the refinery construction is C$100 million, with the new funding replacing a previously announced US$20 million strategic corporate investment [4] Company Developments - The refinery will create over 50 new jobs and is expected to deliver long-term economic benefits, reinforcing Ontario's leadership in electric vehicle battery manufacturing [3] - Electra is also planning to produce other battery materials and has commenced a feasibility study for a battery recycling refinery adjacent to the cobalt refinery [5] - The company is targeting a ~60% reduction in convertible debt and a US$30 million equity raise as part of its financing plan [4] Industry Context - The project supports Ontario's clean energy transition and aims to establish a domestic supply of battery-grade cobalt, which is critical for energy security and the global energy transition [2][3] - With over 90% of the global cobalt sulfate supply currently coming from China, Electra aims to be one of the few producers without ties to Foreign Entities of Concern, thereby enhancing the resiliency of the North American supply chain [2][5]

Core Insights - First Atlantic Nickel Corp. has announced the successful completion of its Phase 1 drilling program at the RPM Zone, revealing a significant near-surface mineralized zone of awaruite nickel measuring approximately 400m x 500m, with all drill holes intersecting broad, continuous zones of mineralization [1][5][10] - The company is now advancing into Phase 2 drilling, which is fully funded and aims to expand the known mineralization footprint and assess the potential for a large-scale resource [1][11][12] Company Overview - First Atlantic Nickel Corp. is a Canadian mineral exploration company focused on developing the 100%-owned Atlantic Nickel Project, which is strategically located in Newfoundland, Canada [29][30] - The project features awaruite, a natural nickel-iron alloy that contains approximately 75% nickel and can be processed without the need for smelting, thus enhancing the resilience of North America's critical minerals supply chain [29][30] Phase 1 Drilling Results - The Phase 1 drilling program consisted of four diamond drill holes totaling 1,363 meters, successfully delineating a substantial zone of disseminated awaruite nickel mineralization [6][10] - Metallurgical testing via the Davis Tube Recovery method yielded an average magnetically recoverable nickel grade of 0.13%, with an average magnetic nickel concentrate of 1.41% Ni and an average mass pull of 9.1%, indicating a total nickel recovery of 54% based on an initial total nickel grade of 0.24% [1][5][8] Phase 2 Drilling Plans - The Phase 2 drilling program is designed to systematically expand the known footprint of the RPM Zone, targeting areas to the north, east, and west, as well as testing greater depths for potential bulk-tonnage resources [11][12] - Initial results from the first hole of the Phase 2 program (AN-25-06) have already confirmed the presence of large grain visible awaruite, extending the mineralization eastward [11][12] Awaruite Nickel Significance - Awaruite's unique properties allow for cleaner processing compared to conventional nickel sources, which often involve environmentally harmful methods [18][19] - The U.S. Inflation Reduction Act mandates that eligible clean vehicles must not contain critical minerals processed by foreign entities of concern, positioning awaruite as a strategic resource for North American electric vehicle manufacturers [18][19][30]

Core Insights - The G7 Critical Minerals Action Plan represents a significant opportunity for Manganese X Energy's Battery Hill Project, aligning with Canada's and the G7's vision for critical minerals [1][3][4] Industry Overview - The Action Plan emphasizes Canada's leadership in establishing secure supply chains for critical minerals, which are vital for clean energy and battery technologies [2] - Manganese is highlighted as a key mineral for global decarbonization and next-generation battery production, underscoring the strategic importance of the Battery Hill Project [4] Company Developments - Manganese X Energy is optimistic about advancing its Battery Hill project, with plans for a Pre-Feasibility Study (PFS) that aligns with the Action Plan's encouragement for investment in mining and processing projects [3][5] - The company aims to become the first publicly traded manganese mining company in Canada and the US to commercialize high-purity manganese for electric vehicles, contributing to the North American critical minerals supply chain [6] Strategic Initiatives - The Action Plan includes mobilizing investment in mining and processing, supporting local value creation, and promoting innovation in critical minerals processing and sustainable supply chains [9]

Financial Data and Key Metrics Changes - The company shipped approximately 27,000 dry metric tons for the quarter, generating $20 million in revenue, a decline from the previous quarter's shipment of approximately 55,700 dry metric tons and revenue of $45.6 million [14][15] - The GAAP net loss for the fourth quarter was $15.6 million, or a loss of $0.71 per share, while the adjusted net loss was $10.1 million, or a loss of $0.46 per share [14][15] - The cash balance decreased from $87.8 million at the start of 2025 to $65.4 million at the end of the first quarter [15][17] Business Line Data and Key Metrics Changes - North American Lithium (NAL) produced a little over 43,000 tons, reflecting a 15% quarter-over-quarter decline due to variable weather conditions impacting mill utilization [6][7] - NAL is on track to meet the production guidance of 190,000 to 210,000 tons for the year ending June 30, 2025 [7] Market Data and Key Metrics Changes - The lithium market has experienced considerable volatility, with prices fluctuating due to shifts in global supply and demand, macroeconomic uncertainty, and evolving policy landscapes [5][10] - Demand fundamentals for lithium remain strong, driven by accelerating EV adoption and growing grid storage applications [10][12] Company Strategy and Development Direction - The company is focused on operational and commercial excellence, maintaining capital discipline, and positioning for long-term success despite market volatility [6] - The merger with Sayona Mining is progressing, with regulatory clearances received and integration planning underway [20][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current challenges in the lithium market but remains optimistic about long-term demand growth and the strategic importance of North American projects [10][12] - The company expects cash balance stability in the second quarter of 2025, similar to the end of Q1 [17] Other Important Information - The company has reduced its full-year capital expenditure outlook from $6 million to $9 million down to $4 million to $6 million due to strategic land position decisions [19] - The merger is expected to create synergies of approximately $15 million to $20 million annually and secure committed funding of about $43 million from resource capital funds [26] Q&A Session Summary Question: Impact of tariffs on North America - Management believes that North American projects are critical and positive in the long term, with tariffs potentially benefiting the Carolina Lithium project [30][32] Question: Reception to the Carolina Lithium Project - Management reports a neutral reception locally, focusing on completing the permitting process while acknowledging challenging lithium market conditions [34][36]

Financial Data and Key Metrics Changes - The company shipped approximately 27,000 dry metric tons for the quarter, recognizing $20 million in revenue, down from 55,700 dry metric tons and $45.6 million in revenue in the previous quarter [13] - The GAAP net loss for the fourth quarter was $15.6 million, or a loss of $0.71 per share, while the adjusted net loss was $10.1 million, or a loss of $0.46 per adjusted share [13] - The cash balance decreased from $87.8 million at the start of 2025 to $65.4 million at the end of Q1 [14][16] Business Line Data and Key Metrics Changes - North American Lithium (NAL) produced approximately 43,000 tons, a 15% quarter-over-quarter decline, but remains on track to meet the guidance of 190,000 to 210,000 tons for the year ending June 30, 2025 [6][8] - The operation achieved a record recovery rate of 72% in March due to process optimization [7] Market Data and Key Metrics Changes - The lithium market has experienced considerable volatility, with prices fluctuating due to shifts in global supply and demand, macroeconomic uncertainty, and evolving policy landscapes [4][9] - Demand fundamentals for lithium remain strong, driven by the acceleration of EV adoption and growth in grid storage applications [9][11] Company Strategy and Development Direction - The company is focused on operational and commercial excellence, maintaining capital discipline, and positioning for long-term success [5] - The merger with Sayona Mining is progressing, with regulatory clearances received and integration planning underway [19][20] - The company aims to develop a secure supply chain for critical minerals in North America, recognizing the growing demand and the need for local production [11][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current challenges in the lithium market but believes that the long-term fundamentals for lithium remain strong [25] - The company expects to ship between 113,000 to 130,000 dry metric tons for the full year 2025, with a back-end loaded shipping schedule [17] - The company anticipates cash contributions to joint ventures and capital expenditures to remain modest as it seeks to preserve balance sheet strength [16] Other Important Information - The company has reduced its full-year capital expenditure outlook from $6 million to $9 million down to $4 million to $6 million due to strategic land position decisions [18] - The merger is expected to create synergies of approximately $15 million to $20 million annually and has secured committed funding of approximately $43 million [24] Q&A Session Summary Question: Impact of tariffs on North America - Management believes that North American projects are critical and positive in the long term, with tariffs potentially benefiting the Carolina Lithium project [28][30] Question: Reception to the Carolina Lithium Project - Management reports a neutral reception locally, focusing on completing the permitting process while acknowledging the challenging lithium market conditions [32][35]

Core Viewpoint - First Atlantic Nickel Corp. has commenced Phase 2 drilling at the RPM Zone of its Atlantic Nickel Project in Newfoundland, aiming to expand the mineralized area and explore new nickel targets, leveraging the unique properties of awaruite for environmentally sustainable processing [1][4][19]. Phase 2 Drilling Program - The Phase 2 drilling program is designed to extend the mineralized area beyond the initial 400 meters by 500 meters defined in Phase 1, targeting high-priority areas to the north, east, and west [5][6]. - The program aims to outline a large-scale nickel system with the potential to host over one billion tonnes of mineralized material [5][6]. - New road access and a more powerful drill rig will enhance drilling speed, depth capacity, and cost efficiency [5][6]. Awaruite Characteristics - Awaruite is a naturally occurring nickel-iron alloy composed of approximately 75% nickel, offering significant processing advantages due to its native metallic state, which eliminates the need for energy-intensive smelting or roasting [2][14]. - The processing of awaruite results in a lower carbon footprint and is suitable for simple domestic processing, aligning with North America's critical minerals supply chain needs [2][14][16]. Phase 1 Results - Phase 1 drilling confirmed a significant awaruite-hosted nickel discovery, with consistent grades averaging approximately 0.24% nickel and strong metallurgical results [7][8]. - Davis Tube Recovery (DTR) metallurgical testing produced a magnetic concentrate with an average grade of approximately 1.35% nickel [5][7]. Strategic Acquisitions - The company has entered into a definitive agreement to acquire eight mineral licenses totaling approximately 3,350 hectares around the Atlantic Nickel Project, which returned elevated magnetically recoverable nickel values [10]. - The acquisition will be financed through the issuance of 1,000,000 common shares at a deemed price of $0.205 per share [10]. Market Context - Awaruite's processing method aligns with the U.S. Inflation Reduction Act's requirements for electric vehicles, which mandate that eligible clean vehicles must not contain critical minerals processed by foreign entities of concern [14][19]. - The development of awaruite resources is crucial for reducing dependence on foreign nickel processing, particularly from China, which dominates the global nickel market [16][19].