By Devika Patel
Knoxville, Tenn., Sept. 24 - Focus Ventures Ltd. said it has completed a C$1.04 million non-brokered private placement of units.
The company sold 4.15 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 a gold explorer based in Vancouver, B.C. Its shares began trading on the TSX Venture Exchange on Sept. 24.
| Issuer: | Focus Ventures Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,037,500
|
| Units: | 4.15 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Sept. 24
|
| Stock symbol: | TSX Venture: FCV
|
| Stock price: | C$0.00 at close Sept. 23
|
| Market capitalization: | C$7.3 million
|
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