Foccini International Inc.
TSX VENTURE : FOI

December 18, 2009 14:01 ET

Foccini Submits Reverse Takeover Application to TSXV

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2009) - Foccini International Inc. (the "Company")(TSX VENTURE:FOI) announces it has submitted a change of business/reverse takeover application ("Transaction") to the TSX Venture Exchange (the "TSXV") and pursuant to TSXV Policy 5.2 - Changes of Business and Reverse Takeovers. Further details regarding the Transaction will be disclosed to the market as they become available.

On September 18, the Company announced in a press release it is exercising its option to purchase 100% ownership of Arch Biotech Inc. (the "Option"), a private company specializing in biomedical technology and drug development. The general terms of the Option were previously disclosed to the market on May 6, 2009.

A general description of Arch and the terms of the Transaction, including, among other things, financing plans, sponsor and Arch financial information, were previously disclosed to the market in a news release on June 30, 2009.

The Company has 26,371,179 common shares outstanding.

For more information on the Company, including all press releases and financial statement disclosures, please consult the Company's public documents filed on SEDAR at www.sedar.com

Completion of the Transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The Transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Foccini International Inc should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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

Contact Information

  • Foccini International Inc.
    Richard Muruve
    (647) 428-7031