May 8, 2015; Vancouver, Canada: Focus Ventures Ltd. (FCV.V) announces that in response to demand, and to provide additional working capital to fund planned development activities at its Bayovar 12 phosphate project in Peru, the Company has increased the size of its proposed non-brokered private placement financing, previously announced on April 9, 2015, to a maximum of 20.0 million units at CAD$0.20 per unit, for proceeds of up to CAD$4.0 million. The financing remains subject to TSX Venture Exchange approval.
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Oversubbed from $3m to $4m on a boring, non-metallic project that's going through the boring infill stage on its boring grey geology thing? What can be going on? Is it possible that the quiet, under-radar market pros are seeing some serious value being created here and want in? We should be told.