Fancamp Announces Investment in EDM Resources Inc.
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
May 3, 2023 TSX-V Trading Symbol: FNC
Fancamp Announces Investment in EDM Resources Inc.
VANCOUVER, British Columbia – May 3, 2023 - Fancamp Exploration Ltd. (“Fancamp” or the
“Corporation”) (TSX Venture Exchange: FNC) is pleased to announce that it has entered into a
subscription agreement (the " Agreement") with EDM Resources Inc. (" EDM") ( TSX Venture
Exchange: EDM, OTC: SWNLF) as part of the Company’s non-brokered hard dollar and flow -
through an oversubscribed private placement for aggregate gross proceeds of over C$2,000,000
(the “Offering”) to maintain its strategic position in the Company.
Pursuant to the Agreement, Fancamp has subscribed to 390,000 units of EDM at a price of $0.50
per unit, each unit consisting of one common share of EDM and one share purchase warrant ,
entitling Fancamp to purchase one additional common share of EDM (each a “Warrant Share”)
at a price of $0.75 for each Warrant Share, until the date that is 36 months from the closing of the
Offering. Upon closing of the Offering, Fancamp holds 2,738,485 common shares of EDM,
representing approximately 11.4% of the issued and outstanding shares of EDM.
This purchase allows Fancamp to continue to maintain its significant position in the near-term zinc
producer, as EDM advances its wholly-owned Scotia Mine, 60 kilometres north of Halifax, Nova
Scotia. The current equity capital raise is anticipated to be the last one before the commencement
of commercial production which is expected in early 2024. Fancamp’s p articipation is an
opportunity to maintain its position in an imminent producer at a low entry point and at a strategic
moment of pivot in EDM’s growth story. Furthermore, Fancamp acquires future upside with
Warrant Shares priced just outside of EDM’s 52 -week trading high. The outlook of demand for
renewable technologies into 2030 could provide upward pressure on global zinc commodity
prices. The zinc market is a growing critical mineral space that Fancamp is pleased to position
itself in via its investment in EDM.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value -added
strategy of progressing priority mineral properties through exploration and innovative
development. The Corporation is focused on an advanced asset play poised for g rowth and
selective monetization with a portfolio of mineral claims encompassing over 158,000 hectares
across Ontario, Quebec and New Brunswick, Canada; including copper, gold, zinc, titanium,
chromium, strategic rare-earth metals and others. The Corporation continues to identify near term
cash-flow generating opportunities and in parallel aims to advance its investments in strategic
mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec -
Labrador Trough, a rare -earth ele ments company, NeoTerrex Corporation, in addition to an
investment in a zinc mine planned to be restarted in Nova Scotia. The Corporation has future
monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire
in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling
technology with its advanced titanium extraction strategy. The Corporation is managed by a
focused leadership team with decades of mining, exploration and complementary tec hnology
experience.
Further information of the Corporation can be found at: www.fancamp.ca
Forward-looking Statements
This news release contains certain “forward-looking statements” or “forward-looking information”
(collectively referred to herein as “forward-looking statements”) within the meaning of applicable
securities legislation. Such forward -looking statements include, without limitation, the closing of
the Offering, the receipt of regulatory approval, completion of the Agreement, forecasts,
estimates, expectations and objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of the Corporation.
Forward-looking statements are statements of fact that are not historical facts or are events or
conditions that may occur or be achieved.
Although Fancamp believes that the material factors, ex pectations and assumptions informing
such forward-looking statements are reasonable based on information available to it on the date
such statements were made, no assurances can be given as to future results of such statements.
Such forward -looking stateme nts involve known and unknown risks, uncertainties and other
factors that may cause actual events to differ materially from those anticipated in such forward -
looking statements.
Readers are cautioned that the foregoing list of factors is not exhaustive. St atements including
forward-looking statements are made as of the date they are given and, except as required by
applicable securities laws, Fancamp disclaims any intention or obligation to publicly update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise. The forward-looking statements contained in this news release are expressly qualified
by this cautionary statement.
For Further Information
Rajesh Sharma, President & Chief
Executive Officer
+1 (604) 434 8829
Debra Chapman, Chief
Financial Officer
+1 (604) 434 8829
Tara Asfour, Director of Investor Relations
+1 (604) 434 8829
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.