Secutor Capital, Industrial Alliance Securities to be agents for deal
By Devika Patel
Knoxville, Tenn., Dec. 7 - Fancamp Exploration Ltd. said it has arranged a private placement of units with agents Secutor Capital Management Corp. and Industrial Alliance Securities Corp. The deal will raise C$4 million on a commercially reasonable-efforts basis.
The company will sell units at C$0.52 apiece. Each unit consists of one common share and one half-share warrant.
Fancamp also will sell flow-through units at C$0.65 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole warrant is exercisable at C$0.90 for 18 months. The strike price reflects an 80% premium to the Dec. 6 closing share price of C$0.50.
Proceeds will be used for exploration on the company's Quebec properties.
Based in Vancouver, B.C., Fancamp is a junior mining company with interests in iron titanium, nickel, gold and uranium properties.
| Issuer: | Fancamp Exploration Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4,000,490
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.90
|
| Agent: | Secutor Capital Management Corp. and Industrial Alliance Securities Corp.
|
| Pricing date: | Dec. 7
|
| Stock symbol: | TSX Venture: FNC
|
| Stock price: | C$0.50 at close Dec. 6
|
| Market capitalization: | C$23.79 million
|
|
|
| Units
|
| Price: | C$0.52
|
|
|
| Flow-through units
|
| Price: | C$0.65
|
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