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Fancamp Exploration Ltd. Announces Non-Brokered Private Placement-Option Grant
Published : December 19, 2012
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - Fancamp Exploration Ltd. (News - Market indicators) ("Fancamp" or the "Issuer") is pleased to announce that it has entered into an agreement with Marquest Capital Markets (the "Finder") in connection with a non-brokered private placement financing of 8,200,200 flow-through units ("FT Units") at a price of $0.165 per FT Unit for aggregate gross proceeds of up to $1,353,033 (the "Offering").

The Offering is expected to close later this month. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. All securities to be issued under the Offering will be subject to a four-month and a day statutory hold period in Canada.

Each FT Unit will consist of one "flow-through share", as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"), of Fancamp and one common share purchase warrant (a "Warrant"). Each Unit will consist of one common share of Fancamp and one-half of a Warrant. Each whole Warrant shall entitle the holder thereof to acquire one additional common share of the Issuer (on a non-flow-through basis) at a price of $0.25 until the date which is 12 months following the closing of the Offering.

As compensation for the services provided by the Finder, the Issuer will pay a cash finder's fee of 6% of the gross proceeds of the Offering raised by the Finder.

The Issuer intends to use the proceeds raised from the issuance of the FT Units to incur additional exploration expenditures on the Issuer's properties in the province of Quebec. Such exploration expenditures will constitute "Canadian exploration expenses" and "flow through mining expenditures", as defined under the Income Tax Act (Canada), which can be renounced to Canadian purchasers of the FT Units for the 2012 taxation year. FT Unit investors who are eligible residents of Quebec will also be entitled to receive Quebec provincial tax credits for qualified exploration expenditures.

The Company has also granted incentive stock options to directors for the purchase of up to 2,250,000 common shares in its capital stock, at a price of $0.20 per share, exercisable on or before December 17, 2017. The options are granted pursuant to the Company's stock option plan, under which a maximum of ten percent (10%) of the issued and outstanding common shares are reserved for issuance. Shares issuable upon exercise of the incentive stock options are subject to a 4 month TSX Venture Exchange hold period, commencing on the date the incentive stock options are granted.

ABOUT FANCAMP EXPLORATION LTD.

Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of resource projects, all in the exploration stage. In Quebec, there is the South Lamelee Iron Property resource, close to the operating Arcelor Mittal Fire Lake Mine and the adjoining Champion Minerals/Fancamp flagship Fire Lake North Project; as well as the promising Stoke Mountain Phelps Dodge Copper Zone; and other grass roots projects in the Quebec Appalachians.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Fancamp Exploration Ltd.

Peter H. Smith, PhD, P.Eng., Chairman and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Fancamp Exploration Ltd.
Peter H. Smith, PhD, P.Eng.
Chairman and Director
604-434-8829
604-433-8823 (FAX)
www.fancampexplorationltd.ca
Data and Statistics for these countries : Canada | All
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Fancamp Exploration Ltd.

EXPLORATION STAGE
CODE : FNC.V
ISIN : CA30710P1027
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Financings of Fancamp Exploration Ltd.
8/23/2013Announces Completion of Second Tranche of Private Placement
8/14/2013Announces Completion of C$ 940,000 Private Placement
12/22/2012Closes Non-Brokered Private Placement
12/22/2012Closes Non-Brokered Private Placement
12/19/2012Announces Non-Brokered Private Placement-Option Grant
3/28/2011Closes Final Tranche of Brokered Financing
3/22/2011Closes First Two Tranches of Brokered Financing
3/15/2011Increases Brokered Financing
Option Grants of Fancamp Exploration Ltd.
5/25/2011Grants Options
Nominations of Fancamp Exploration Ltd.
9/11/2013Proposes Changes to the Board of Directors
10/9/2012Appoints Jean Lafleur Chairman of the Board
Project news of Fancamp Exploration Ltd.
3/13/2013Announces Positive Pilot Test Results for the Production of ...
5/24/2011(Mcfaulds Fancamp)Drilling at McFaulds Lake Property, Ring Of Fire, Northern O...
2/3/2011(Desolation Lake)to Focus on Deeply Buried Targets in James Bay Lowlands
1/17/2011(East Inlet)Acquires Interest in Strategic Iron Properties in the Fermon...
1/17/2011(Black Dan)Acquires Interest in Strategic Iron Properties in the Fermon...
11/12/2010(Mcfaulds Fancamp)Drilling Starts at McFaulds Lake
Corporate news of Fancamp Exploration Ltd.
10/30/2013Announces Voting Results and Allocates Stock Options
10/25/2013Highlights Milestones Achieved
9/18/2013Announces the Approval of an Advance Notice Policy
9/16/2013, Champion and Gimus Secure Deal to Develop Fancamp's Lac La...
9/4/2013Provides Positive Metallurgical Testing Updates on the Magpi...
8/6/2013Makes a Key Management Addition
7/18/2013Delivering on Business Plan, as Company Sells C$2.1 Million ...
5/27/2013Announces Adoption of New Shareholders Rights Plan
5/2/2013Lac Lamelee South Iron Project Yields Inferred Mineral Resou...
1/16/2013Reports Unpublished Results on the Recently Acquired Namex P...
1/14/2013Options Remaining 40% Interest in Koper Lake Project From th...
1/8/2013Options Two Highly Prospective Claim Blocks in the Chapais C...
12/21/2012Dictates Direction and Key Milestones for 2013
11/28/2012Issues Final Set of Assay Results From the Lac Lamelee South...
11/22/2012Issues Fourth Set of Assay Results From the Lac Lamelee Sout...
11/13/2012Issues Third Set of Assay Results From the Lac Lamelee South...
11/6/2012Releases Second Assay Results From the Lac Lamelee South Iro...
10/31/2012Announces Voting Results and Management Changes
10/22/2012Announces First Assay Results From the Lac Lamelee Iron Proj...
10/22/2012Announces That a Leading Proxy Advisory Firm Recommends That...
10/22/2012Announces That a Leading Proxy Advisory Firm Recommends That...
10/22/2012Announces That a Leading Proxy Advisory Firm Recommends That...
10/19/2012Alerts Shareholders to Concerned Shareholder's Circular: Mr....
9/28/2012Announces Exploration Work on the Gaspe Gold Property
6/29/2011Magpie Drilling to Begin
5/20/2011Announces First Tranche Closing of Brokered Financing by the...
4/21/2011Drilling at McFaulds Lake Property, Ring of Fire, Northern O...
4/8/2011Announces $10,000,000 Brokered Financing by the Magpie Mines...
3/1/2011Fermont JV Resource Estimate/Lac Lamelee Drill Program
2/16/2011Increases Interest in Lac Lamalee Iron Property to 100%
12/31/2010Completes Final Tranche of $4 Million Brokered Financing
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TSX-V (FNC.V)
0.050+0.00%
TSX-V
CA$ 0.050
10/23 15:19 -
0%
Prev close Open
0.050 0.050
Low High
0.050 0.055
Year l/h YTD var.
0.050 -  0.110 -%
52 week l/h 52 week var.
0.050 -  0.110 -28.57%
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66,500 -%
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