Fancamp Delivering on Business Plan, as Company Sells C$2.1 Million Worth of its Argex Titanium Shareholdings
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/18/13 -- Fancamp Exploration Ltd. (TSX: FNC) ("Fancamp" or the "Company") is pleased to announce that the Company has received gross proceeds of C$2.1 million from the sale of 3 million shares of Argex Titanium Inc. (TSX VENTURE: RGX) to four arm's length purchasers.
The Company still owns 6 million shares of Argex Titanium Inc., after the sale announced today, with a market value of $6,840,000 based on the closing price as of July 17, 2013.
Mr. Jean Lafleur, M. Sc., P. Geo., President and CEO of Fancamp stated, "Fancamp is delivering on its promise made in December 2012 to monetize its liquid assets and continues to unlock value for its shareholders."
Proceeds from the sale will be used by Fancamp for continued exploration activities and for general working capital purposes. A finder's fee equal to 5% of the gross proceeds was paid to an arm's length third party of the Company.
About Fancamp Exploration Ltd ()
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Fancamp Exploration Ltd.
Jean Lafleur, M. Sc., P. Geo.
President and CEO, Director
+1 514 975 3633
Fancamp Exploration Ltd.
Michael D'Amico
Investor Relations
+1 647 500 6023
Aberdeen Gould Advisory Services Ltd.
Roger Rosmus
Business Development
+1 416 488 2887 x222
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 18.07.2013 - 13:15 Uhr
Sprache: Deutsch
News-ID 279735
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 186 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Fancamp Delivering on Business Plan, as Company Sells C$2.1 Million Worth of its Argex Titanium Shareholdings"
steht unter der journalistisch-redaktionellen Verantwortung von
Fancamp Exploration Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
