By Devika Patel
Knoxville, Tenn., April 12 - Fancamp Exploration Ltd. said it will raise C$2 million in a private placement of units via agent Pope & Co. Ltd.
The company will sell 4 million units at C$0.50 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.75 for two years.
Proceeds will be used for exploration and general working capital.
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$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Pope & Co. Ltd.
|
| Pricing date: | April 12
|
| Stock symbol: | TSX Venture: FNC
|
| Stock price: | C$0.60 at close April 9
|
| Market capitalization: | C$25.4 million
|
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