Business
Fancamp Exploration Ltd. Closes C$1 Million Non-Brokered Private Placement Flow-Through Financing
VANCOUVER, British Columbia, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSXV: FNC) is pleased to announce that the
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSXV: FNC) is pleased to announce that the Company has completed the closing of a non-brokered private placement financing of 6,666,667 flow-through shares of the Company for gross proceeds of Cdn$1,000,000.05. At closing of the private placement, the Company issued 6,666,667 flow-through shares for gross proceeds of Cdn$1,000,000.05 (the “Private Placement”). Each flow-through share issued in connection with the Private Placement is subject to a four-month hold period under applicable securities laws in Canada, which hold period shall end on May 1, 2021. The Company intends to use the gross proceeds for the purpose of conducting qualifying exploration expenditures on its properties in Quebec. In connection with the closing of the Private Placement, Fancamp paid a finder’s fees to Laurentian Bank Securities Inc. totalling Cdn$45,000 in cash. 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 or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. About Fancamp Exploration Limited (TSXV: FNC) Fancamp is a public company 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. The Company has an exceptional inventory of resource properties in Québec, Ontario and New Brunswick; commodities of interest include gold, rare earth elements, strategic metals, base metals, chromium, titanium, iron and silica. In addition, the Company has begun to build on the industria...