Business
Fancamp Exploration Corrects Recent Inaccurate Statements from Mr. Peter H. Smith
VANCOUVER, British Columbia / Sep 30, 2021 / Business Wire / Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) would like to
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia / Sep 30, 2021 / Business Wire / Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) would like to correct the inaccurate statements in Mr. Peter H. Smith’s September 27, 2021 press release and reiterate the facts from the Corporation’s recent developments. ScoZinc Transaction Terminated As announced on September 16, the proposed business combination with ScoZinc Mining Ltd. (“ScoZinc”) has been terminated. Instead, Fancamp will become a shareholder of ScoZinc by way of a private placement, which will allow Fancamp to save from paying the termination fee and benefit from ScoZinc’s significant near-term production potential and corporate upside in today’s strong commodity environment. The foregoing is subject to regulatory approval. Moving Forward with a Refreshed Board and Strategic Plan Following the annual general meeting (“AGM”), which will take place on Tuesday, October 5, 2021 at 10:00 a.m. ET, Fancamp’s highly experienced Board of Directors (the “Board”) will advance the Corporation’s strategic plan focused on exploration properties, titanium technology and strategic alternatives. Additional details regarding exploration program will be announced in the near future. In light of the recent court decision in favour of Fancamp, shareholders have expressed a clear desire to move forward with this clear and united corporate strategy and take advantage of a unique and strategic project portfolio. The agreement with Mr. Ferron and certain other shareholders confirms this position and aligns the interests of shareholders with the Board and management, and Fancamp looks forward to a bright new future. Mr. Smith and Others' Unreasonable Attempts to Extort Over $1 Million in Fees Fancamp remains open to reaching further agreements with Mr. Smith and others for the benefit of all shareholders; however, it will not accommodate unreasonable attempts to extort extravagant fees and excessive costs. Mr. Smith started this proxy fight to regain control of the Corporation and has indicated he will use Fancamp’s treasury to personally repay himself and others for expenses. The Corporation understands Mr. Smith will seek over $1 million to repay himself and others for the needless and avoidable proxy fight he started. This is not in the interests of all shareholders. Vote Your Gold ...