VANCOUVER, Feb. 6, 2012 /CNW/ - Focus Ventures Ltd. (TSX-V: FCV) is
pleased to announce that it has closed its previously announced
non-brokered private placement by issuing 7,037,000 units at $0.15 per
unit, for gross proceeds of $1,055,550. Each unit consists of one
common share and one warrant, each warrant entitling the holder to
purchase one additional common share for two years at $0.20. The
Company also issued 8,940 common shares and 57,840 warrants as finders'
fees in connection with the financing. The finders' fee warrants have
the same terms as the unit warrants. All of the shares and warrants
have a resale restriction until June 2, 2012.
The proceeds of the financing will be used for exploration of the
Company's mineral projects in Peru and Mexico, and for general working
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru and
Mexico. Backed by an experienced technical team of geologists and
consultants, Focus's strategy is to identify and acquire former
producing mines or untested gold and silver and base metal properties
that show potential to become new mines. For further information,
please call 604-688-5288 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President
Shares Issued: 36.4-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the
business of Focus Ventures Ltd. Actual results may differ materially
from those currently anticipated in such statement.
SOURCE Focus Ventures Ltd.
For further information:
Tel: (604) 688-5288; Fax: (604) 682-1514