By Devika Patel
Knoxville, Tenn., May 21 - Focus Ventures Ltd. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 4 million units at C$0.25 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.30 for two years.
Proceeds will be used for exploration and corporate expenses.
Focus Ventures is based in Vancouver, B.C.
| Issuer: | Focus Ventures Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | May 21
|
| Stock symbol: | TSX Venture: FCV.H
|
| Stock price: | C$0.30 at close May 20
|
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