Focus Ventures Increases Private Placement
March 17 2014 - 8:45AM
Marketwired
Focus Ventures Increases Private Placement
VANCOUVER, CANADA--(Marketwired - Mar 17, 2014) - Focus Ventures
Ltd. (TSX-VENTURE:FCV) reports that it has revised its previously
announced private placement to increase the size of the financing
to $1,254,000, and, as required by the TSX Venture Exchange, to
increase the exercise price of the warrants to 26.5 cents per
share.
Accordingly, the private placement will be up to 5.7 million
units at 22 cents per unit, to raise gross proceeds of up to
$1,254,000. Each unit will consist of one common share and one half
of a warrant, each full warrant entitling the holder to purchase
one additional common share of the Company at 26.5 cents for one
year from closing.
A finder's fee may be paid on a portion of the placement. The
finder's fee will consist of 7 per cent cash or units and 7 per
cent warrants, each such warrant entitling the finder to purchase
one common share of the Company at a price of 26.5 cents for one
year.
The proceeds of the financing will be used for continued
exploration of the Company's Bayovar 12 phosphate project in Peru,
and for general working capital purposes. The financing is subject
to stock exchange approval.
About Focus
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
604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director
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 contains
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) 630-5544(604)
682-1514info@focusventuresltd.comwww.focusventuresltd.com
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