Focus Ventures (FCV-V) March 17, '14 has revised its previously announced private placement to increase the size of the financing to $1,254,000, and, as required by the TSX Venture Exchange, to increase the exercise price of the warrants to 26.5 cents per share.
Accordingly, the private placement will be up to 5.7 million units at 22 cents per unit, to raise gross proceeds of up to $1,254,000. Each unit will consist of one common share and one-half of a warrant, each full warrant entitling the holder to purchase one additional common share of the company at 26.5 cents for one year from closing.
A finder's fee may be paid on a portion of the placement. The finder's fee will consist of 7-per-cent cash or units and 7-per-cent warrants, each such warrant entitling the finder to purchase one common share of the company at a price of 26.5 cents for one year.
The proceeds of the financing will be used for continued exploration of the company's Bayovar 12 phosphate project in Peru, and for general working capital purposes. The financing is subject to stock exchange approval.
Message 29443593 |
