First Pursuit Ventures Ltd.
TSX VENTURE : FPV.H

February 02, 2010 15:21 ET

First Pursuit Closes $650,000 Private Placement and Reactivates Listing to TSX Venture Tier 2

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2010) -

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

First Pursuit Ventures Ltd. (TSX VENTURE:FPV.H) (the "Company") is pleased to announce that it has closed its non-brokered private placement of 4,333,333 million units (the "Unit") at a price of $0.15 per Unit (collectively the "Financing"). An aggregate of 4,333,333 common shares and 4,333,333 common share purchase warrants ("Warrants") were issued in connection with the Private Placement, with each Warrant entitling the holder to acquire one (1) common share at a price of $0.20 for a period of two years from the date of issue. The 4,333,333 common shares and all warrant shares issued are subject to a four-month hold period.

Finders fees paid include: an aggregate of $50,208 in cash and 318,400 in finders' warrants payable to a registered dealer, where each finders' warrant will entitle its holder to subscribe for one common share at $0.20 per Share for a period of 24 months from completion of the Financing.

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. The Company has also received regulatory approval to move the Company's listing to TSX Venture Exchange Tier 2 from NEX. This will be effective at the open on Thursday Feb 4, 2010.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

Terry Fields, President and Director

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 or accuracy of this release.

Contact Information

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