|By Marketwired .||
|July 4, 2014 11:27 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/04/14 -- Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) announces today that the TSX Venture Exchange (the "Exchange") has accepted a notice filed by Fancamp of its intention to proceed with a normal course issuer bid (the "Bid").
Under the Bid, Fancamp intends to purchase up to 10,310,745 common shares, representing approximately 10% of the public float of the issued and outstanding common shares of Fancamp (the "Common Shares"). Fancamp will cancel any Common Share purchased pursuant to the Bid. The purchases may commence on July 8, 2014 and will terminate on July 9, 2015 or on such earlier date as Fancamp will have completed its purchases or otherwise decides not to proceed with other acquisitions. Purchases will be made on the open market by Fancamp through the facilities of the Exchange in accordance with the Exchange requirements. Fancamp will pay the market price for Common Shares on the Exchange at the time of purchase, provided however that Fancamp shall not pay a price higher than $0.07 per Common Share, and no purchases of Common Shares will be made other than open-market purchases.
The Board of Directors of Fancamp believes that the current market value does not reflect the fair, fundamental value of Fancamp. Fancamp also thinks that the repurchasing of Common Shares which it may carry out, from time to time, will be in the best interest of its shareholders.
Fancamp has not purchased any of its shares during the past 12 month period.
MacDougall, MacDougall & MacTier inc. will conduct the Bid on behalf of Fancamp.
About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company that continues to
evolve into a holder of shares in partner companies and royalties on near-term producing mines. These assets are designed to generate free cash flow without further shareholder dilution. Fancamp has 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, hematite, nickel/copper/PGM, chromite, Volcanogenic Massive Sulphides and gold.
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.
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