Business
Fancamp Exploration Ltd. Releases Letter to Shareholders Outlining Plan for Growth and FAQ Regarding Significant Benefits of ScoZinc Mining Transaction
VANCOUVER, British Columbia / Jun 16, 2021 / Business Wire / Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) today announc
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia / Jun 16, 2021 / Business Wire / Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) today announced that further to its management information circular filed on June 2, 2021, it has released another important letter to shareholders as well as an accompanying FAQ on the transaction with ScoZinc Mining Ltd. The letter outlines Fancamp’s action-oriented, three-pronged strategy for growth, and strongly recommends that shareholders vote only the GOLD proxy FOR all six of Fancamp’s exceptionally qualified and experienced director nominees: Mark Billings, Rajesh Sharma, Ashwath Mehra, Paul Ankcorn, Charles Tarnocai and Dean Journeaux. The letter also warns shareholders not to risk giving Mr. Smith another 90 days to come up with a plan when they have already given him 34 years with nothing to show. Highlights from Fancamp’s Latest Letter to Shareholders For 34 years, Mr. Smith was in charge of Fancamp, holding positions including Chairman, Director, President and CEO. Over the decades, there have been many changes at the director and management levels, but until recently, the one constant was Mr. Smith. In those 34 years, Mr. Smith operated in secret from the Board of Directors (the “Board”), made no discoveries, destroyed shareholder value, entered lopsided deals to enrich his friends and associates, and treated Fancamp’s money as his personal bank account. When the current Board uncovered the truth, they held Mr. Smith accountable, asking him to step down in August 2020, then terminating his consulting agreement for cause in April 2021. They are now in the middle of a forensic investigation that is uncovering and confirming further issues. Now, after escaping decades of mismanagement, Fancamp is finally on the right path to deliver shareholder value and returns under the leadership of current management and a rejuvenated, governance-focused Board. Since being appointed CEO in September 2020, Rajesh Sharma, along with the Board, has completed a comprehensive strategic review of Fancamp’s mineral properties and other assets, and developed a three-pronged strategy for growth focused on Exploration Targets, Titanium Technology, and Strategic Alternatives, acquiring projects that have the potential for near-term cash flow, such as the ScoZinc Scotia Mine. The ScoZinc Scotia Mi...