VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. is pleased to announce a non-brokered private placement of $102,000 through the sale of 408,000 flow-through units (the "FT Units") at $0.25 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 at a price of $0.50 per share for a period of up to 2 years from the closing date. There will be an additional offering of 90,000 non flow-through units (the "Units") at $0.20 per Unit, consisting of one common share and one half of one share purchase Warrant. Each whole Warrant will be exercisable at a price of $0.40 per share for a period of up to 2 years from the closing date. A finder's fee of 5% in cash and 7% in common shares at a deemed price of $0.20 per share will be paid to eligible finders.
All warrants are subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires.
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.
ON BEHALF OF THE BOARD
Peter H. Smith, Ph.D., P.Eng., President
S.E.C. Exemption: 12(g)3-2(b)
FOR FURTHER INFORMATION PLEASE CONTACT:
Fancamp Exploration Ltd.
Peter H. Smith, Ph.D., P.Eng.