Business
Fancamp Announces Non-Brokered Private Placement of up to $450,000 Flow-Through Shares
VANCOUVER, British Columbia, Dec. 27, 2019 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX VENTURE: FNC) is pleased to announ
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 27, 2019 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX VENTURE: FNC) is pleased to announce a non-brokered private placement financing (the “Private Placement”) of up to 3,125,000 flow-through shares of the Company at a price of Cdn$0.08 per share and of up to 2,666,667 flow-through shares of the Company at a price of Cdn$0.075 per share (collectively, the “Offering”), for gross proceeds of up to Cdn$450,000. The directors of Fancamp have approved the Offering. Subject to TSX Venture Exchange (the “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 Québec, Ontario and New-Brunswick. In connection with the Private Placement, Fancamp has agreed to pay finder’s fees in an amount of up to Cdn$31,500 in cash and up to 405,417 compensation options to purchase common shares (“Finder’s Warrants”). The Finder’s 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 Cdn$8,750 and up to 109,375 Finder’s Warrants, each exercisable at a Cdn$0.10; Leede Jones Gable Inc. will receive up to Cdn$8,750 and up to 109,375 Finder’s Warrants, each exercisable at a Cdn$0.10; and EMD Financial Inc. will receive up to Cdn$14,000 and up to 186,667 Finder’s warrants, each exercisable at Cdn$0.075. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United states, and may not be offered or sold in the United States or to, or for the account ...