First Pursuit Ventures Ltd.
TSX VENTURE : FPV.H

December 15, 2009 19:00 ET

First Pursuit Announces $650,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) -

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

First Pursuit Ventures Ltd. (TSX VENTURE:FPV.H) (the "Company") announces a non-brokered private placement of up to 4,333,333 million units (the "Unit") at a price of $0.15 per Unit (collectively the "Financing"). Each Unit will consist of one common share of the Company, (the "Share") and one common share purchase warrant of the Company (the "Warrant"). Each Warrant will entitle its holder to subscribe for one Share at $0.20 per Share for a period of 24 months from completion of the Financing. The Shares, Warrants and any shares issued on exercise of the Warrants will bear a four-month restriction on resale from the completion date. The Financing is subject to regulatory approval including an application to move the Company's listing to TSX Venture Exchange from NEX.

Proceeds from the Financing will be used to fund the Company's La Tuna property in Sonora, Mexico, working capital and for its general expenses. Closing of the placement is targeted from mid-January, 2010. Finders fees within regulatory policy will be payable on a portion of the financing and insiders may subscribe for a portion.

This news release is not an offer of securities for sale in the United States nor in any other jurisdiction where they may not be lawfully offered or sold. The securities comprising this offering have not been, and will not be, registered under the Securities Act of 1933, (United States) as amended, and may not be offered or sold in the United States absent such registration or an exemption from registration.

Currently the Company is a mineral exploration company whose principal focus is the exploration of an early stage mineral property in Mexico where drilling was recently completed and assays are pending. As at December 15, 2009 there were 11,498,917 Shares outstanding.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

"Terry Fields"

Terry Fields
President and Director

Neither the NEX, TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Pursuit Ventures Ltd.
    Investor Relations
    604-682-2928
    604-685-6905 (FAX)