Company plans to use proceeds for general working capital, exploration
By Devika Patel
Knoxville, Tenn., Feb. 6 - Focus Ventures Ltd. said it completed a C$1.06 million non-brokered private placement of units. The offering priced for C$1 million on Nov. 14 and was amended to raise C$1.05 million on Jan. 9.
The company sold 7,037,000 units of one common share and a warrant at C$0.15 per unit. Each whole warrant is exercisable at C$0.20 for two years. The strike price is a 5.26% premium to the Nov. 10 closing share price of C$0.19.
Proceeds will be used for exploration of the company's mineral projects in Peru and Mexico and for general working capital purposes.
Focus Ventures is a gold explorer based in Vancouver, B.C.
| Issuer: | Focus Ventures Ltd.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,055,550
|
| Units: | 7,037,000
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 14
|
| Revised: | Jan. 9
|
| Settlement date: | Feb. 6
|
| Stock symbol: | TSX Venture: FCV
|
| Stock price: | C$0.19 at close Nov. 10
|
| Market capitalization: | C$7.62 million
|
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