VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. wishes to announce a best efforts, non-brokered private placement of $1,000,000 through the sale of 1,515,152 units (the "Units") at $0.66 per Unit. Each Unit will consist of one common share and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable at a price of $0.80 per share for a period of up to 2 years from the closing date, 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.
A finder's fee of 5% in cash and 7% in common shares will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The proceeds received will be used for general working capital and further work on the Company's exploration properties in Ontario and Quebec. 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.