Business
Fancamp Exploration announces closing of Property Sale and Royalty Agreement with Vision Lithium Inc.
VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce that it has entered into a property sale agreement (the “Agreement”) with Vision Lithium Inc. (“VLI”), pursuant to which the Corporation will transfer to VLI the exploration property known as Wells. The Wells property comprises four claims and will form a part of a large and significant land package with better potential for development by VLI. This transaction is in line with Fancamp’s strategy of monetizing its non - core mineral properties and will add to its growing portfolio of royalty and marketable securities. As consideration, the Corporation will receive at closing 1,500,000 shares of VLI (the “Shares”) valued at $330,000, based on the Tuesday, November 30, 2021, closing price of VLI’s shares on the TSX Venture Exchange. The Shares will be subject to a statutory hold period expiring on the date that is four (4) months and one day from the closing date. In addition, the Corporation also retained a perpetual 2% net smelter return royalty on all mineral production from the property. Fancamp continues to focus its exploration program on its most advanced and promising projects. About Fancamp Exploration Ltd. (TSX-V: FNC) Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of advancing mineral properties through exploration and development. The Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including gold, rare-earth metals, strategic and base metals, zinc, chromium, titanium and more. Fancamp is also building on the industrial possibilities inherent in dealing with some of these materials, notable being the development of its Titanium technology strategy. The Corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience. Forward-looking Statements This news release includes certain statements which are not comprised of historical facts and that constitute \"forward-looking information\" and \"forward-looking statements\" within the meaning of applicable Canadian securities laws. Forward-looking statements include estimates and statements that describe Fancamp’s future plans, objectives or goals, in...