VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 11, 2013) - Fancamp Exploration Ltd. ("Fancamp" or the "Company") (News - Market indicators) is pleased announce changes to the Board of Directors which will require shareholder approval at the Annual and Special Meeting set to be held this year at the law offices of Lavery, 1 Place Ville Marie, 40th Floor, Montreal (Quebec) on October 25th 2013 at 10:30 A.M.
Mr. Jean Lafleur, M.Sc., P. Geo., President and CEO of Fancamp, stated "We want to move Fancamp toward the position of holder of assets including interests in projects and companies, and eventually, producing royalties. These proposed Board changes will give Fancamp further exposure to a wealth of experience which will enhance the possibilities of reaching these goals."
Changes to the Board of Directors
Michael Sayer, Debra Chapman and Fouad Kamaleddine are not included in the revised slate which will consist of Messrs. Mel De Quadros, Gilles Dubuc, Paul Ankcorn, Peter H. Smith and Jean Lafleur together with two new candidates, Mr. Ashwath Mehra and Mr. Ali A. Al Hazeem. The Company wishes to thank the outgoing Directors for their commitment and contribution during their tenures.
Switzerland-based Ashwath Mehra worked in the minerals industry for 22 years, starting his career with Philipp Brothers after which he spent 10 years with Glencore, where he was a Senior Partner and ran the Nickel and Cobalt Divisions as well as working on equity and bond issues. He was the CEO of MRI Trading AG from 2002 until its recent sale. Mr. Mehra also served as the CEO of MRI Resources AG, MRI Advisory AG and the MRI Group. He also served as a Director of Champion Iron Mines, Inc., (2010 to 2013) as well as a Director of Marc Rich+Co. Investment AG, MRI Resources AG, MRI Trading AG, MRI Investment AG, MRI Resources South Africa AG, Andina Trade SAC, Janus AG, Mimeco AG, Pulchra AG, Shorthorn AG, ERIG/MRI Private Equity Investments AG and Shamika Resources Inc. He has substantial experience in projects and project finance. Mr. Mehra holds a Bachelor Degree in Economics and Philosophy from the London School of Economics.
The Dubai-based Ali A. Al Hazeem is the Founder and Chairman of Amarium Commodities DMCC, a commodities brokerage and trading firm headquartered in Dubai (United Arab Emirates). Previously Mr. Al Hazeem was a director of the Kuwait Clearing Company S.A.K., the Kuwait Real Estate Bank and the Financial Group of Kuwait (Asset Management and Investment Banking Firm), as well as Pershimco Resources, Orex Exploration, Petichor Energy and Uragold Bay Resources. He was also a co-founder of Argex Titanium. In addition, he was a Banker with Merrill Lynch International and with the Central Bank of Kuwait. He also was previously registered with the NASDAQ, NYSE, CBOE and the Philadelphia Exchange (PHLX) as a general securities representative. Mr. Al Hazeem currently serves as a director and co-owner of Intercoil International Co. LLC, an industrial company based in Dubai. He is an entrepreneur and venture capitalist, and an active investor in the Canadian markets. Mr. Al Hazeem holds a Bachelor of Science in International Business Administration from the American University of Switzerland and an MBA in financial studies from the University of Nottingham in the United Kingdom.
Mr. Lafleur adds "The nominations of Mr. Mehra and Mr. Al-Hazeem to the Board are a very significant step forward in the execution of the Company's business plan as outlined in December 2012. In conjunction with Fancamp's business development strategist, Mr. Roger Rosmus of Aberdeen Gould Capital Markets, they will be instrumental in creating value as well as developing financial opportunities in Europe, Asia and the Middle East in line with the Company's business plan."
About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of resource projects at various stages of development covering more than 1,710 km2 in three provinces. The commodities include hematite magnetite iron formations, titaniferous magnetite and hematite, nickel/copper/PGM, chromite, Volcanogenic Massive Sulphides and gold. The Company is focused on enhancing shareholder value by identifying and acquiring early-stage projects with excellent mineral potential; advancing them to the next decision stage with efficient exploration; selling, optioning or joint venturing them to solid partners for cash and shares of the partnering companies and inheriting a significant royalty on future production.
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