Focused on Gold in Peru

News

News Releases

 November 05, 2009
Focus Arranges $6.0 Million Private Placement & Strengthens Management Team

 NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

November 5, 2009; Vancouver, Canada: Focus Ventures Ltd. (TSX-V: FCV.V) is pleased to announce that it has negotiated, subject to stock exchange approval, a non-brokered private placement of up to 8.0 million units at $0.75 per unit, for gross proceeds of up to $6.0 million. Each unit will consist of one common share and one half of a warrant. Each whole warrant will entitle the holder to purchase one additional common share at $1.00 exercisable for two years.

If at any time from four months and one day after the closing of the financing, the volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange over a period of 20 consecutive trading days exceeds $1.25, the Company may, within five days after such an event, provide notice to the warrant holders that the warrants will expire early, namely, on the date which is 30 calendar days after the date of such notice to the warrant holders.

The Company has agreed to pay Axemen Resource Capital Ltd. and Leede Financial Markets Inc. finder's fees with respect to subscribers found by Axemen and Leede. The net proceeds of the placement will be used for advancement of the Company's Nueva California Property in Peru, and for general working capital purposes.

Management Appointments

The Board of Directors of Focus recently made a number of changes to the Company's executive management team, including appointing existing director, Simon Ridgway, as Chairman and Chief Executive Officer. A well known financier with over 20 years of mining and exploration experience worldwide, he has raised more than $250 million for companies under his guidance since 2003. The Board looks forward to the continuing development of Focus Ventures under Mr. Ridgway's direction.

Mr. Mark Slauenwhite, a resident in Peru and currently the Company's Manager of Exploration, has been promoted to the position of Vice-President, Exploration. Mark has 25 years' international experience including 13 years in Peru. He was responsible for all aspects of Barrick Gold's exploration program in South and Central Peru. He also spent 11 years with Inco in Canada and South America. He holds a BSc. (1984) Degree in Geology from Acadia University, Nova Scotia.


Ms. Erin Ostrom has been appointed to the position of Vice-President, Corporate Communications. Ms. Ostrom has worked in a communications and investor relations capacity for Fortuna Silver Mines and Radius Gold since 2007. She graduated from Simon Fraser University with a Bachelor of Arts in English Literature and Humanities in 1999. She then went on to graduate with honors from BCIT's Marketing Communications/Direct Response program. She will have responsibility for all aspects of Focus's communications strategy.

Mr. Ralph Rushton has been appointed Vice-President, Corporate Development. Mr. Rushton holds a B.Sc. in geology from Portsmouth University in the UK, a Master's degree in economic geology from the University of Alberta, and a Certificate in Business Communications from Simon Fraser University. He has worked in business development and marketing for junior mining and exploration companies since 2003. He has 17 years' experience in mining and exploration, gained primarily working as a geologist for the Anglo American group in Southern Africa, the Middle East and Eastern Europe.

About Focus Ventures

Focus Ventures is acquiring advanced, drill-ready projects in Peru. Led by an experienced technical team of geologists and consultants, Focus's strategy is to identify and acquire former producing mines or un-tested gold properties that show potential to become new mines. The Nueva California Property, Focus's first acquisition, lies 35km north of Barrick Gold's Pierina Mine, near the town of Huaraz and is currently a privately owned, operating gold silver mine. Focus is the first company to drill test the project area, with encouraging results from the 400 meter, first-pass drill campaign, and a second phase of drilling now in the planning and permitting stages.

The Company was recently listed on the TSX Venture Exchange, and currently has 19.3 million shares issued. For further information on Focus Ventures Ltd., please call 604-688-5288 or visit our web site www.focusventuresltd.com.


ON BEHALF OF THE BOARD

"David Cass"
David Cass, President


Contact: Erin Ostrom / Ralph Rushton
Symbol: TSXV-FCV
Shares Issued: 19.3-million

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 
 

You can view the Next News Releases item: Mon Nov 9, 2009, Focus grants stock options

You can view the Previous News Releases item: Tue Oct 27, 2009, Focus Confirms Bulk Tonnage Gold Potential at Nueva California

You can return to the main News Releases page, or press the Back button on your browser.