Focus Metals Inc.

Focus Metals Inc.

October 22, 2010 16:20 ET

Focus Metals Completes the 2nd Tranche of a Private Placement and Signs a Service Agreement

OTTAWA, ONTARIO--(Marketwire - Oct. 22, 2010) - Focus Metals Inc. ("Focus Metals" or "Corporation")(TSX VENTURE:FMS) is pleased to announce the closing of the second tranche of a non-brokered private placement (the "Placement") (announced in news release of August 19, 2010 and partially completed on October 5, 2010) for gross proceeds of $60,500. The Placement consists of the issuance of 605,000 units at a price of $0.10 per unit. Each Unit is comprised of one common share and one-half of a warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.15 until October 22, 2012. The securities issued in connection with the Placement are subject to a four-month holding period expiring on February 23, 2011. The proceeds from the Placement will be used to cover the Corporation's expenses related to the acquisition of the Lac Knife project. One insider has participated to this private placement for an amount of $10,000.

In Other News:

Focus is also pleased to announce that it has signed a one-year service agreement with a social financial media and advertising firm at a cost of $112,560 plus taxes.


Focus Metals Inc. is an emerging mid-tier junior mining exploration company with excellent discovery stage base metals and industrial minerals opportunities in Quebec. A determined management team with extensive mining business experience lead the Corporation. 

This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. While the Company anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information.

Neither 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

  • Focus Metals Inc.
    Gary Economo
    President and Chief Executive Officer
    613-691-1091 ext. 101