Non-brokered deal funds exploration of Bayovar 12 phosphate project
By Devika Patel
Knoxville, Tenn., March 11 - Focus Ventures Ltd. said it plans a C$1.1 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at C$0.22 per unit. Each whole one-year warrant will be exercisable at C$0.25. The strike price reflects a 7.41% discount to the March 10 closing share price of C$0.27.
Proceeds will be used for exploration of the Bayovar 12 phosphate project and for general working capital purposes.
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$1.1 million
|
| Units: | 5 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | March 11
|
| Stock symbol: | TSX Venture: FCV
|
| Stock price: | C$0.27 at close March 10
|
| Market capitalization: | C$12.98 million
|
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