Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

October 28, 2009 16:08 ET

Fancamp Announces Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. (the "Company") wishes to announce a new financing of $1,500,000 through the sale of 3,000,000 flow-through units (the "FT Units") at $0.50 per FT Unit. Each FT Unit will consist of one flow-through common share, and one-half of one non flow-through share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable to acquire one additional common share at a price of $0.75 per share for two years from the closing date, subject to earlier forced acceleration in the event the Company's shares close at a price of $1.00 per share or more for 30 consecutive trading days after the four month hold expires.

The Company will pay finder's fees of 8% in cash and 10% in options for non flow-through units (the "NFT Units") at $0.50 per NFT Unit to eligible arm's length finders in relation to this financing, all in accordance with regulatory policies. The NFT Units will consist of one common share and one-half of one Warrant. The flow-through proceeds received will be used for work on the Company's exploration properties in Ontario. The above is subject to regulatory approval.


Peter H. Smith, PhD., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information