VANCOUVER, Nov. 14, 2011 /PRNewswire/ - Focus Ventures Ltd. (TSXV: FCV) is pleased to announce that it has arranged, subject to stock exchange approval, a non-brokered private placement of up to 5.0 million units at $0.20 per unit, for proceeds of up to $1.0 million. Each unit will consist 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.
A finder's fee may be paid on a portion of the placement. The finder's fee will consist of 6% cash or units and 6% warrants, each such warrant entitling the finder to purchase one common share of the Company at a price of $0.20 for two years.
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 dedicated to the discovery and definition of quality mineral resources in Peru and Mexico and is developing a diversified portfolio of quality projects 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
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.