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Fancamp Exploration Ltd.

Exchange: TSXV Exchange | Jun 19, 2019, 12:40 AM EDT

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Nebu Resources Announces Financing and Exploration Update

Nebu Resources Inc. (the "Company")(TSX VENTURE:NBU) is pleased to announce that it has entered into an engagement letter with Union Securities Ltd. ("Union") in relation to an offering (the "Private Placement") of up to 5,000,000 units (the "Units") at a price of $0.15 per Unit for gross proceeds of up to $750,000. The Company has also granted the agent an over-allotment option (the "Over-Allotment Option") to purchase up to 500,000 Units at $0.15 per Unit, such Over-Allotment Option, if exercised, to be executed within 10 business days of the closing date and completed within 30 business days of the closing date. Each Unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one common share of the Company (the "Warrant Share") at a price of $0.25 per Warrant Share for a term of 18 months from the closing date. Union will be paid a cash commission equal to 8% of the gross proceeds of the Private Placement and the Over-Allotment Option and will also receive compensation options (the "Compensation Options") equal to 8% of all Units sold pursuant to the Private Placement and the Over-Allotment Option. Each Compensation Option entitles Union to purchase one Unit at a purchase price of $0.15 per Unit for a period of 24 months from the closing date.

The Units will be subject to a four-month statutory hold period from the date of issuance.

Nebu Resources is a junior exploration company focused on the gold exploration and development business in Ontario, Canada, in 3 specific and distinct areas: West Timmins, Quest Lake, in the Thunder Bay mining district, and Burntbush, Ontario, exploring the Ontario extension of the Casa Berardi Deformation Zone. The Company intends to explore the Ontario gold properties extensively over the 2009 season.

In addition, the Company announces that it has formally terminated its option agreement with Sheridan Platinum and Fancamp Exploration (TSXV:FNC) , and will no longer be pursuing uranium exploration.

The net proceeds of this Private Placement will be used to cover the development of the Company's properties, with a majority of the funds being targeted to exploring and drilling the Timmins West properties.

The Company advises that its drilling program in Denton Township, west of Timmins, which was intended to commence at the end of July 2009, has been delayed due to the unusually wet weather in Northern Ontario which extended the time required to complete the geophysical surveys. The drilling is now expected to begin on or about the 20th of August 2009.

The Private Placement is conditional upon satisfactory completion of due diligence review by Union and receipt of approval by the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release

Nebu's shares are listed for trading on the TSX Venture Exchange under the symbol NBU.V. Nebu currently has 36,604,173 common shares issued and outstanding.

For further information: R. Brian Murray, (416) 985-7810,

John V. Hickey, (416) 903-6649

Visit our website at www.neburesources.com

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