Foccini International Inc. (the "Company")(TSX VENTURE:FOI) announces it is
exercising its option to purchase 100% ownership of Arch Biotech Inc. (the
"Option"), a private company specializing in biomedical technology and drug
development. The general terms of the Option were previously disclosed to the
market on May 6, 2009.


The Company has begun preparations to submit a change of business/reverse
takeover application ("Transaction") to the TSX Venture Exchange (the "TSXV")
and pursuant to TSXV Policy 5.2 - Changes of Business and Reverse Takeovers.


A general description of Arch and the terms of the Transaction, including, among
other things, financing plans, sponsor and Arch financial information, were
previously disclosed to the market in a news release on June 30, 2009.


Other Company News

The Company recently named Richard Muruve as its new Chief Executive Officer.
Mr. Muruve has been a director of the Company since 2005 and is a co-founder of
Arch Biotech Inc.


The Company has 26,321,179 common shares outstanding.

For more information on the Company, including all press releases and financial
statement disclosures, please consult the Company's public documents filed on
SEDAR at www.sedar.com.


Completion of the Transaction is subject to a number of conditions, including
Exchange acceptance and disinterested Shareholder approval. The Transaction
cannot close until the required Shareholder approval is obtained. There can be
no assurance that the Transaction will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the Management Information
Circular to be prepared in connection with the Transaction, any information
released or received with respect to the Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities of Foccini
International Inc should be considered highly speculative.


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of this press
release.


Forward-Looking Statements

All statements, other than statements of historical fact, in this news release
are forward looking statements that involve various risks and uncertainties,
including, without limitation, statements regarding the future plans and
objectives of the Company. There can be no assurance that such statements will
prove to be accurate. Actual results and future events could differ materially
from those anticipated in such statements. These and all subsequent written and
oral forward-looking statements are based on the estimates and opinions of
management on the dates they are made and are expressly qualified in their
entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change.


Foccini International (TSXV:FOI)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Foccini International Charts.
Foccini International (TSXV:FOI)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Foccini International Charts.