Fancamp arranges $450,000 private placement

Jan 2, 2020

2019-12-27 13:09 ET – News Release

Mr. Peter Smith reports

FANCAMP ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $450,000 FLOW-THROUGH SHARES

Fancamp Exploration Ltd. has arranged a non-brokered private placement financing of up to 3,125,000 flow-through shares of the company at a price of eight cents per share and of up to 2,666,667 flow-through shares of the company at a price of 7.5 cents per share, for gross proceeds of up to $450,000. The directors of Fancamp have approved the offering.

Subject to TSX Venture Exchange acceptance, the company anticipates closing the private placement in late December, 2019.

All securities to be issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws in Canada.

The company intends to use the gross proceeds raised from the offering for the purpose of conducting qualifying exploration expenditures on its properties in Quebec, Ontario and New Brunswick.

In connection with the private placement, Fancamp has agreed to pay finders’ fees in an amount of up to $31,500 in cash and up to 405,417 compensation options to purchase common shares. The finders’ warrants will entitle the holder thereof to purchase one common share of the company and will be exercisable for a period of 24 months following the closing of the private placement. Subject to the closing of the private placement and to the exchange’s acceptance, Laurentian Bank Securities Inc. will receive up to $8,750 and up to 109,375 finders’ warrants, each exercisable at 10 cents; Leede Jones Gable Inc. will receive up to $8,750 and up to 109,375 finders’ warrants, each exercisable at 10 cents; and EMD Financial Inc. will receive up to $14,000 and up to 186,667 finders’ warrants, each exercisable at 7.5 cents.

About Fancamp Exploration Ltd.

Fancamp is using a value-added strategy based on the acquisition of potentially valuable assets, adding value through the selection process itself and subsequent development work, self-financed or otherwise, followed by disposition, proceeds from which are used to finance the same process multiple times.

We seek Safe Harbor.

https://fancampexplorationltd.ca/en