VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. wishes to announce that the Company has arranged a new non-brokered financing of $155,000 through the sale of 206,667 flow-through units (the "FT Units") at $0.75 per Unit. Each FT Unit will consist of one common share and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into common shares at a price of $0.90 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 8% in cash and 10% in options for non flow through units at $0.75 per unit will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The proceeds received will be used to further 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.