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FAV.P Focused Capital II Corp

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Share Name Share Symbol Market Type
Focused Capital II Corp TSXV:FAV.P TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Focused Capital II Corp. Announces Proposed Qualifying Transaction With United Hydrocarbon International Corp.

09/07/2012 4:16am

Marketwired Canada


Focused Capital II Corp. ("Focused Capital II") (TSX VENTURE:FAV.P), a capital
pool company as defined under Policy 2.4 of the TSX Venture Exchange (the
"Exchange"), is pleased to announce that it has entered into a non-binding
letter of intent (the "LOI") for the arm's length acquisition of 100% of the
common shares of United Hydrocarbon International Corp. ("UHI"), a company
incorporated under the laws of Canada. Pursuant to the terms of the LOI and
subject to completion of certain conditions precedent, including, completion by
UHI of a private placement for approximately $100 million, satisfactory due
diligence, execution of a definitive agreement and receipt of all necessary
regulatory and Exchange approvals, the proposed acquisition of UHI will qualify
as Focused Capital II's "Qualifying Transaction" as defined by Exchange Policy
2.4.


About United Hydrocarbon International Corp.

UHI is a private international oil and gas company engaged in the acquisition,
exploration, development and exploitation of petroleum assets in the Republic of
Chad, Africa. UHI has recently entered into a production sharing contract with
the government of the Republic of Chad covering approximately 5.3 million acres
across four blocks. Included in the production sharing contract are four oil
discoveries and a comprehensive exploration data base relinquished by a major
oil company. UHI is headquartered in Canada and has a management team with
extensive experience identifying, acquiring, financing, exploring and developing
oil and gas assets in Africa.


About Focused Capital II Corp.

Focused Capital II, a capital pool company within the meaning of the policies of
the Exchange, was listed on the Exchange on December 28, 2011. Focused Capital
II does not have any operations and has no assets other than cash. Focused
Capital II's business is to identify and evaluate businesses and assets with a
view to completing a qualifying transaction under the policies of the Exchange.


Trading of the common shares of Focused Capital II remains halted in connection
with the dissemination of this press release, and will recommence at such time
as the Exchange may determine, having regard to the completion of certain
requirements pursuant to Exchange Policy 2.4. Further details of the proposed
transaction, including the consideration to be paid, will follow in future press
releases.


The information provided in this press release regarding UHI and its management
has been provided to Focused Capital II by UHI and has not been independently
verified by Focused Capital II.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
Requirements, majority of the minority shareholder approval. Where applicable,
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 or filing statement 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
a capital pool company should be considered highly speculative.


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


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Although Focused Capital II and UHI believe that the expectations reflected in
forward looking statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be correct. Except
as required by law, Focused Capital II and UHI disclaim any intention and
assumes no obligation to update or revise any forward looking statements to
reflect actual results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such forward looking
statements or otherwise.


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