OTTAWA, ONTARIO -- (Marketwire) -- 12/23/11 -- Focus Metals Inc. ('Focus Metals' or 'Corporation') (TSX VENTURE: FMS) announces today that it has approved an amendment to its stock option plan (the 'Plan') in order to increase the number of common shares reserved for issuance under the Plan from 6,143,434 to 8,364,117, being 10% of the Corporation's issued and outstanding common shares. The increase is subject to regulatory approval.
Furthermore, the Corporation announces that it has granted a total of 1,900,000 options at an exercise price of $0.71 until December 22, 2016, of which an amount of 200,000 has been granted to a consultant of the Corporation and 1,700,000 has been granted to the following directors and officers of the Corporation: Gary Economo (1,000,000), Jeff York (500,000), Francis Pomerleau (100,000) and Judith Mazvihwa (100,000). The options are subject to regulatory approval and may not be exercised until such approval has been received by the Corporation.
About Focus Metals Inc.
Focus Metals Inc. is an emerging mid-tier junior mining company, a technology solutions supplier and a business innovator. It is the owner of the highest-grade (15.7%) technology graphite resource in the world. The company's goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Metals is invested in the development of graphene applications and patents through Grafoid Inc.
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.
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