Fjordland Completes Non-Brokered Private Placement Financing
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
Not for dissemination in the United States or through U.S. newswires
TSX-V: FEX
FOR IMMEDIATE RELEASE NR2022-07
Fjordland Completes Non-Brokered Private Placement Financing
Vancouver, BC, April 25, 2022 ─ Fjordland Exploration Inc. (TSX-V: FEX) (the “Company”) announces that it
has closed the second and final portion (“Tranche 2”) of the non-brokered private placement financing (the "Private
Placement”) announced on March 24, 2022. Tranche 2 comprised gross proceeds of $182,650 equivalent to
1,405,000 common shares on a flow-through basis at a price of $0.13 per common share. The total gross proceeds
raised in the Private Placement was $897,155 (Tranches 1 and 2) . Finder’s fees of 6% were paid as follows:
$41,700.30 to Laurentian Bank Securities (Tranche 1) and $1,560 to Richardson Wealth Ltd. (Tranche 2).
The funds will be spent on Canadian Exploration Expenses on the Company’s nickel exploration properties in
Quebec and may also be eligible for the increased critical metals tax credit of 30% enacted on April 7, 2022.
Nickel has been identified as a critical element in the advancement of green technologies and exploration
companies and investors have been encouraged to find domestic supplies of it.
Fjordland will provide an update shortly on the current drill program underway on its Renzy nickel project in Quebec
and the exploration planned for the remainder of 2022.
All the securities issued pursuant to Tranche 2 carry a legend and may not be traded until August 26, 2022. Insider
and Pro Group participants included:
Insiders: Mark T. Brown, CFO 100,000 common shares
Pro Group: Bernie Hensel 100,000 common shares
Oliver Gilbert 150,000 common shares
The net proceeds of the Private Placement will be used for the exploration of the Company's Renzy Nickel-Copper
project in Quebec.
On completion of the Private Placement, Fjordland’s issued and outstanding securities is 82,285,531.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
U.S. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or
any state securities laws and may not be offered or sold within the U.S. or to U.S. persons unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Related Party Disclosure
Mark T. Brown, CFO, purchased 100,000 common shares for aggregate proceeds of $13,000 . As a result, his
participation is considered a “related party transaction” under Multilateral Instrument 61- 101 (“MI 61- 101“). The
directors of the Company have determined that his participation in the private placement is exempt from the formal
valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set forth
in sections 5.5(c) and 5.7 (1)(a) of MI 61- 101 and, in connection therewith, have determined that neither the fair
market value of the securities to be distributed in the private placement nor the consideration to be received, insofar
as it relates to him, exceeds 25% of the Company’s market capitalization. The Company did not file a material
change report related to this financing more than 21 days before the expected closing of the priv ate placement as
required by MI 61-101 since the details of the participation by the related party of the Company was not settled until
shortly prior to the closing of the Private Placement and the Company wished to close on an expedited basis for
sound business reasons.
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large- scale
economic metal deposits in Canada.
In collaboration with Ivanhoe Electric Inc. and Commander Resources Ltd., Fjordland is exploring the SVB “Pants
Lake Intrusive” target which is in a geologic setting analogous to the nearby nickel -cobalt-copper Voisey’s Bay
deposit. Fjordland has earned a 75% interest in the project.
Fjordland, as operator, has an agreement to acquire 100% of the Renzy nickel -project located near Maniwaki ,
Quebec. The project encompasses the former Renzy Mine where, during the period from 1969 to 1972, 716,000
short tons were mined with average grades of 0.70% nickel and 0.72% copper. Fjordland has staked additional
claims to increase the size of the project to 530 sq. km.
As well, Fjordland has 2 copper-gold properties in the Quesnel Trough of central British Columbia, The West Milligan
copper-gold project is a joint venture with Northwest Copper Corp. located within 4 km of Centerra’s Mount Milligan
copper-gold mine. The 103 sq. km. Witch copper-gold project is located another 35 km west of the Milligan mine.
ON BEHALF OF THE BOARD OF DIRECTORS
“James Tuer”
James Tuer, CEO
For further information:
James Tuer
Ph: 604-688-3415
www.fjordlandex.com
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical
fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private
placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such 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 the Company's plans or expectations include market prices, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.
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 this release.