Fancamp Announces Investment in the Rare Earth Elements company NeoTerrex Corporation
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
December 23, 2021 TSX-V Trading Symbol: FNC
Fancamp Announces Investment in the Rare Earth Elements company NeoTerrex Corporation
VANCOUVER, British Columbia – 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 NeoTerrex Corporation (“NeoTerrex”) as part of a n oversubscribed brokered private
placement of 46,844,000 common shares (the Common Shares) at a price of $ 0.10 per share and 5,600,000
flow through shares at a price of $ 0.125 in the share capital of NeoTerrex (the “Offering”).
Pursuant to the Agreement, the Corporation has subscribed to 8,932,000 Common Shares at a price of
$0.10 of NeoTerrex, representing approximatively 15% of the issued and outstanding shares of NeoTerrex
after completion of the Offering.
Concurrently with the Agreement, the Corporation also entered into an investor rights letter with NeoTerrex,
whereby subject to and in accordance with the terms therein , a nominee of the Corporation will join the
board of directors of Neo Terrex with one (1) seat out of up to six (6). Fancamp will play an active role in
supporting the venture through its network and strategic relationship.
The Corporation’s investment in NeoTerrex as part of the Offering (the “Investment”) is not a “related party
transaction” within the meaning of the applicable securities legislation. Mathieu Stephens, a director of the
Corporation, is also a principal and one of the founders of NeoTerrex. Accordingly, Mr. Stephens restrained
himself from voting as a director of the Corporation on the Investment.
NeoTerrex Corporation is a private rare earth elements (REE) exploration company which is focused on
developing exploration projects of high grade critical rare earth oxides in Quebec and is expected to go
public in 2022 . The company has two key projects : Mount Discovery and Greenwinds. The Quebec
Government geological database (Sigeom) indicates the presence of high values of critical rare earth
elements neodymium and praseodymium, which are highly sought -after light rare earth elements crucial
in products such as motors, turbines and medical devices. Demand for them exploded in recent years with
the growth of technology and will continue to climb amid the ongoing race to create a large electric
vehicle market.
The Corporation’s President and CEO Rajesh Sharma stated “ This strategic investment in NeoTerrex will
enable Fancamp to participate in the critical and strategic mineral supply chain that has assumed
significant importance in reducing dependence on foreign supply to North America. US and Canadian
governments have declared strong support to build and develop strategic minerals projects to meet the
increasing demand for such minerals to satisfy the burgeoning market to attain the ir net-zero carbon
reduction targets . NeoTerrex is well positioned to be a focused vehicle through which Fancamp could
participate in the emerging opportunity in REE exploration.”
Fancamp has in its current portfolio, two Quebec properties with REE potential.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value -added strategy
of advancing its priority mineral properties through exploration and innovative development. The
Corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including
chromium, strategic rare -earth metals, gold, zinc, titanium and more. Fancamp’s chromium properties in
the highly sought -after Ring of Fire in Northern Ontario are strategically loca ted. Its rare earth element
properties in Quebec are a special focus. Fancamp has investments in an existing iron ore operation in the
Quebec-Labrador Trough, in addition to an investment in a zinc mine planned to be restarted in Nova
Scotia. Fancamp is de veloping energy reduction technology with its advanced Titanium extraction
strategy. The Corporation is managed by a focused leadership team with decades of mining, exploration
and complementary technology experience.
Forward-looking Statements
This news release includes certain statements which are not comprised of historical facts and that constitute
"forward-looking information" and "forward -looking statements" within the meaning of applicable
Canadian securities laws. Forward -looking statemen ts include esti mates and statements that describe
Fancamp’s future plans, objectives or goals, including words to the effect that Fancamp or its
management expects a stated condition or result to occur. Forward-looking statements may be identified
by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”,
“foresees” or “plan”. Since forward -looking statements are based on multiple factors, assumptions and
address future events and conditions, by their very nature th ey involve inherent risks and uncertainties.
Although these statements are based on information currently available to Fancamp, Fancamp provides
no assurance that actual results will meet the management’s expectations. Risks, uncertainties and other
factors involved with forward -looking information could cause actual events, results, performance,
prospects and opportunities to differ materially or simply fail to materialize from those expressed or implied
by such forward-looking information. There can be no assurance that forward-looking statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ materially from Fancamp ’s
expectations include, among others , political, economic, environmental and permitting risks, mining
operational and development risks, litigation risks, regulatory restrictions, environmental and permitting
restrictions and liabilities, the inability of NeoTerrex to raise capital or secure necessary financing in the
future, as well as factors discussed in the section entitled “Risks and Uncertainties” in Fancamp’s
management’s discussion and analysis of Fancamp’s financial statements for the period ended July 31,
2021. Although Fancamp has attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as anticipated, estimated or
intended. Fancamp considers its assumpti ons to be reasonable based on information currently available,
but there can be no assurance that such statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
For Further Information
Rajesh Sharma, President & Chief Executive Officer
+1 (604) 434 8829
Debra Chapman, Chief Financial Officer
+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.