Focus Closes $1.0 Million Financing
VANCOUVER, Feb. 6, 2012 /PRNewswire/ - Focus Ventures Ltd. (TSX-V: FCV) is pleased to announce that it has closed its previously announced non-brokered private placement by issuing 7,037,000 units at $0.15 per unit, for gross proceeds of $1,055,550. Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one additional common share for two years at $0.20. The Company also issued 8,940 common shares and 57,840 warrants as finders' fees in connection with the financing. The finders' fee warrants have the same terms as the unit warrants. All of the shares and warrants have a resale restriction until June 2, 2012.
The proceeds of the financing will be used for exploration of the Company's mineral projects in Peru and Mexico, and for general working capital purposes.
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru and Mexico. Backed by an experienced technical team of geologists and consultants, Focus's strategy is to identify and acquire former producing mines or untested gold and silver and base metal properties that show potential to become new mines. For further information, please call 604-688-5288 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President
Shares Issued: 36.4-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.
SOURCE Focus Ventures Ltd.