First Pursuit Ventures Ltd.
TSX VENTURE : FPV.H

January 27, 2010 13:17 ET

First Pursuit Ready to Close $650,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2010) -

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") is pleased to announce that it is fully subscribed for its non-brokered private placement of 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 will close upon regulatory approval including an application to move the Company's listing to TSX Venture Exchange from NEX.

Finders fees will be paid that include: an aggregate of $51,408 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 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. Closing of the placement is targeted within the next week upon regulatory approval.

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)