Company plans proceeds for general working capital, exploration
By Jennifer Chiou
New York, Jan. 9 - Focus Ventures Ltd. announced changes to its previously reported non-brokered private placement of units. It will now sell up to 7 million units of one common share and a warrant at C$0.15 apiece for proceeds of up to C$1.05 million.
The company originally said it would sell 5 million units at C$0.20 each.
Each whole warrant is still exercisable at C$0.20 for two years. The strike price is a 5.26% premium to the Nov. 10 closing share price of C$0.19.
Proceeds will be used for exploration of the company's mineral projects in Peru and Mexico 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 a warrant
|
| Amount: | C$1.05 million
|
| Units: | 7 million (maximum)
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 14
|
| Amended: | Jan. 9
|
| Stock symbol: | TSX Venture: FCV
|
| Stock price: | C$0.19 at close Nov. 10
|
| Market capitalization: | C$5.57 million
|
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