Secutor Capital, Industrial Alliance Securities were agents for deal
By Devika Patel
Knoxville, Tenn., Dec. 16 - Fancamp Exploration Ltd. said it raised C$1.12 million in the second tranche of an oversubscribed C$6.65 million private placement of units. The deal priced for C$6.5 million Nov. 16, and Fancamp raised C$5.53 million on Nov. 29.
The company sold a total of 15,249,498 flow-through units of one flow-through common share and one half-share warrant at C$0.415 per unit and 1 million non flow-through units of one common share and one warrant at C$0.32 per unit.
Each whole warrant is exercisable at C$0.50 until May 29, 2013. The strike price reflects a 63.93% premium to the Nov. 15 closing share price of C$0.305.
Agents Industrial Alliance Securities Inc. and Secutor Capital Management Corp. conducted the offering on a commercially reasonable efforts basis.
Proceeds will be used for exploration and general corporate purposes.
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 one warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$6,648,542
|
| Warrant expiration: | May 29, 2013
|
| Warrant strike price: | C$0.50
|
| Agent: | Industrial Alliance Securities Inc. and Secutor Capital Management Corp.
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 29 (for C$5,526,991), Dec. 16 (for $1,121,551)
|
| Stock symbol: | TSX Venture: FNC
|
| Stock price: | C$0.305 at close Nov. 15
|
| Market capitalization: | C$19.42 million
|
|
|
| Units
|
| Amount: | C$320,000
|
| Units: | 1 million
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$6,328,542
|
| Units: | 15,249,498
|
| Price: | C$0.415
|
| Warrants: | One half-share warrant per unit
|
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