SYS-CON MEDIA Authors: Peter Silva, Glenn Rossman, Ava Smith, Elizabeth White, Pat Romanski

News Feed Item

Fancamp Exploration Ltd. Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/22/12 -- Fancamp Exploration Ltd. (TSX VENTURE:FNC) ("Fancamp" or the "Issuer") is pleased to announce the completion of the previously announced 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"). Marquest Capital Markets (the "Finder") has been paid a cash commission equal to 6% of the gross proceeds of the Offering.

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-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 December 21, 2013. All securities issued bear resale restrictions until April 22, 2013.

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.

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.

Contacts:
Fancamp Exploration Ltd.
Peter H. Smith, PhD, P.Eng
Chairman and Director
(604) 434-8829
(604) 433-8823 (FAX)
www.fancampexplorationltd.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Infor has announced a new feature Infor CloudSuite™ Aerospace & Defense (A&D) to aid compliance with International Traffic in Arms Regulations (ITAR). The ITAR function will serve as a complementary function for new or existing Infor CloudSuite A&D customers, to facilitate compliance for Infor customers that are creating a US defense article or performing a US defense service and wish to benefit from cloud-services. The ITAR regulation serves to manage handling and access requirements for dat...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry experti...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Cochlear Limited, the global leader in implantable hearing solutions, has selected AppZero for easy migration of its Microsoft Windows Server 2003 applications, a major priority for IT organizations before Microsoft ends support on July 14, 2015. AppZero software enables server application migration from old operating systems to new platforms or clouds and has been proven to be ten times faster, more reliable and efficient than alternative approaches.
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
SYS-CON Media announced today the IBM, which offers the world’s deepest portfolio of technologies and expertise that are transforming the future of work, has launched ad campaigns on SYS-CON’s numerous online magazines such as Cloud Computing Journal, DevOps Journal, Virtualization Journal, and IoT Journal. IBM's campaigns focus on application testing, improving application development processes, common challenges in testing composite applications, continuous testing as part of the DevOps lifec...