Focus Closes $1.5 Million Private Placement
December 02 2013 - 7:30AM
Marketwired
Focus Closes $1.5 Million Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 2, 2013) - Focus
Ventures Ltd. (TSX-VENTURE:FCV) is pleased to advise that it has
closed its previously announced non-brokered private placement by
issuing 12.5 million units at $0.12 per unit, for gross proceeds of
$1.5 million. Each unit consists of one common share and one
warrant, each warrant entitling the holder to purchase one
additional common share of the Company at $0.20 for two years from
closing. If the closing price of the Company's shares exceeds $0.25
for a period of 10 consecutive trading days, the Company may
accelerate the expiry of the warrants by giving notice in writing
to the holders, and in such case, the warrants will expire on the
30th day after the date on which such notice is given. The Company
also issued 170,800 units and 316,633 warrants as finders' fees in
connection with the financing. The finders' fee warrants are
exercisable at $0.16 for two years from closing. All of the shares
and warrants have a resale restriction until March 29, 2014.
The proceeds of the financing will be used for exploration of
the Company's phosphate projects in Peru and Colombia, and for
general working capital purposes.
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
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 contain 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.
Focus Ventures Ltd.Ralph Rushton(604) 688-5288(604)
682-1514info@focusventuresltd.comwww.focusventuresltd.com
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