Focus Receives $971,000 from Exercise of Warrants
August 05 2014 - 8:30AM
Marketwired Canada
Focus Ventures Ltd. (TSX VENTURE:FCV) ("Focus") is pleased to announce that it
has received proceeds of $971,273 during July from the exercise of warrants.
This is in addition to the $2.38-million received from the exercise of warrants,
announced on June 24th, 2014. Insiders of Focus contributed approximately 16%
($541,739) of the total cash received from the two combined warrant tranches,
and now hold 12% of the issued shares of Focus, or 15% on a fully diluted basis.
Management wishes to thank all those who exercised warrants over the last few
months, demonstrating their confidence in Focus's strategic plan to advance the
Bayovar 12 phosphate project in northern Peru.
The funds received will be allocated to:
-- making the option payment of $750,000 for the Bayovar 12 project due in
late August
-- completion of permitting of the planned second stage drilling at Bayovar
12, and initiation of diamond drilling when permits are received
-- completion of the maiden resource estimate for the project during August
2014
-- initiation of metallurgical testwork
The revised share structure, reflecting the recent warrant exercises, is
available on Focus's website at:
http://www.focusventuresltd.com/s/ShareStructure.asp?ReportID=665451&_Type=Share-Structure&_Title=Share-Structure
Qualified Person
The scientific and technical information in this release were prepared under the
supervision of David Cass, Focus's President, who is a member of the Association
of Professional Engineers and Geoscientists of British Columbia, and a Qualified
Person in accordance with National Instrument 43-101.
About Focus
Phosphate rock is a key raw material for fertilizers and vital for sustaining
world food production. The discovery and development of new phosphate deposits
in Latin America is becoming increasingly important given the consistent growth
in demand for phosphate for fertilizer production. To meet this demand, Focus is
acquiring and developing quality phosphate projects, primarily in Peru. For
further information, please call 604-630-5544 or visit our web site
www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director & Vice-President, Corporate Development
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements
This news release may include certain "forward-looking information" within the
meaning of Canadian securities legislation. Forward-looking statements include
predictions, projections and forecasts and are often, but not always, identified
by the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"forecast", "expect", "potential", "project", "target", "schedule", budget" and
"intend" and statements that an event or result "may", "will", "should", "could"
or "might" occur or be achieved and other similar expressions and includes the
negatives thereof. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements are based on a
number of material factors and assumptions. Important factors that could cause
actual results to differ materially from the Company's expectations include
actual exploration and development results, changes in project parameters as
plans continue to be refined, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business conditions,
uninsured risks, regulatory changes, delays or inability to receive required
approvals, and other exploration or other risks detailed herein and from time to
time in the documents filed by the Company from time to time on SEDAR at
www.sedar.com. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ from those
described in forward-looking statements, there may be other factors that cause
such actions, events or results to differ materially from those anticipated.
There can be no assurance that forward-looking statements will prove to be
accurate and accordingly readers are cautioned not to place undue reliance on
forward-looking statements which speak only as of the date of this news release.
The Company disclaims any intention or obligation, except to the extent required
by law, to update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Focus Ventures Ltd.
Ralph Rushton
Director & Vice-President, Corporate Development
(604) 630-5544
(604) 682-1514 (FAX)
info@focusventuresltd.com
www.focusventuresltd.com
Focus Ventures Ltd. (TSXV:FCV)
Historical Stock Chart
From Jul 2024 to Aug 2024
Focus Ventures Ltd. (TSXV:FCV)
Historical Stock Chart
From Aug 2023 to Aug 2024