Non-brokered deal raises funds for exploration; Marquest is a finder
By Devika Patel
Knoxville, Tenn., Dec. 19 - Fancamp Exploration Ltd. said it plans a C$1.35 million non-brokered private placement of units. Marquest Capital Markets will be paid a 6% finder's fee for the deal.
The company will sell 8,200,200 units of one flow-through common share and one warrant at C$0.165 per unit.
Each warrant will be exercisable at C$0.25 for one year. The strike price reflects a 78.57% premium to the Dec. 18 closing share price of C$0.14.
Proceeds will be used for exploration.
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 flow-through common share and one warrant
|
| Amount: | C$1,353,033
|
| Units: | 8,200,200
|
| Price: | C$0.165
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 19
|
| Stock symbol: | TSX Venture: FNC
|
| Stock price: | C$0.14 at close Dec. 18
|
| Market capitalization: | C$14.8 million
|
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