Fokus Mining Corporation announced a private placement to issue 3,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 150,000 on April 4, 2024. The transaction will include participation from 5 investors. Each Unit consists of one common share and one common share purchase warrant.

Each warrant entitles the holder to acquire one common share at a price of CAD 0.06 for a period of three years from the closing date. In connection with the private placement, the Company did not pay any commission or finder's fee and no insiders participated in the placement. Following the private placement, there are 125,309,460 common shares issued and outstanding.

Under applicable legislation, the securities issued in the private placement are subject to a four-month hold period, expiring on August 5, 2024. The private placement remains subject to final approval by the TSX Venture Exchange.