By Devika Patel
Knoxville, Tenn., Nov. 5 - Focus Ventures Ltd. said it has arranged a C$6 million non-brokered private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at C$0.75 per unit. Each whole warrant is exercisable at C$1.00 for two years.
Proceeds will be used for advancement of the company's Nueva California Property in Peru and for general working capital.
Focus Ventures is a gold explorer based in Vancouver, B.C.
| Issuer: | Focus Ventures Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million (maximum)
|
| Units: | 8 million
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.00
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 5
|
| Stock symbol: | TSX Venture: FCV
|
| Stock price: | C$0.87 at close Nov. 4
|
| Market capitalization: | C$16.7 million
|
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