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Provider : Reuters Investment Profile
Provider : Streetwise Reports
Provider : Streetwise Reports
Provider : Streetwise Reports

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Focus Ventures Ltd Increases Private Placement to $1.5M

Wednesday, 16 Oct 2013 08:30am EDT 

Focus Ventures Ltd announced that its recently announced non-brokered private placement has been increased to $1.5 million and the Company will now issue up to 12.5 million units at $0.12 per unit, subject to stock exchange approval. Each unit will consist of one common share and one full warrant, each full warrant entitling the holder to purchase one additional common share of the Company at $0.20 for two years from closing. If the closing price of the Company's shares exceeds $0.25 for a period of 10 consecutive trading days, the Company may accelerate the expiry of the warrants by giving notice in writing to the holders, and in such case, the warrants will expire on the 30th day after the date on which such notice is given. The proceeds of the financing will be used for exploration of the Company's phosphate projects in Peru and Colombia, and for general working capital purposes. 

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