Focus Arranges $1.2M Private Placement
02 Outubro 2013 - 12:55PM
Marketwired Canada
Focus Ventures Ltd. (TSX VENTURE:FCV) is pleased to announce that it has
arranged, subject to stock exchange approval, a non-brokered private placement
financing of up to 10 million units at $0.12 per unit, for proceeds of up to
$1.2 million. Each unit will consist of one common share and one-half of a
warrant, each full warrant entitling the holder to purchase one additional
common share of the Company at $0.18 for two years from closing.
A finder's fee may be paid on a portion of the placement. The finder's fee will
consist of 7% cash or units and 7% warrants, each such warrant entitling the
finder to purchase one common share of the Company at a price of $0.18 for two
years.
The proceeds of the financing will be used for exploration of the Company's
Bayovar 12 phosphate project in Peru, and for general working capital purposes.
The Bayovar 12 mining concession is close to the operating Bayovar phosphate
mine, owned by Vale, Mosaic and Mitsui. Focus believes the Bayovar 12 property
shows potential to host a large sedimentary phosphate deposit and is planning a
systematic grid-based drill program which will commence as soon as exploration
permits are received from the authorities.
Qualified Person
The scientific and technical information in this release was prepared under the
supervision of Mr. David Cass, Focus's President, who is a member of the
Association of Professional Engineers and Geoscientists of British Columbia, and
a "Qualified Person" in accordance with NI 43-101.
About Focus Ventures
Phosphate rock is a raw material for fertilizers and vital to world food
production. Focus is acquiring and developing quality phosphate projects in
Latin America where the discovery and development of new deposits is becoming
increasingly important given the growing demand and limited local supply of
phosphate for fertilizer production. For further information, please call
604-688-5288 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President
Symbol: TSXV-FCV
Shares Issued: 40.1-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statement
Some of the statements in this news release contains forward-looking information
that involves inherent risk and uncertainty affecting the business of Focus
Ventures Ltd. Actual results may differ materially from those currently
anticipated in such statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Focus Ventures Ltd.
Ralph Rushton
(604) 688-5288
(604) 682-1514 (FAX)
info@focusventuresltd.com
www.focusventuresltd.com
Focus Ventures Ltd. (TSXV:FCV)
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