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Strategies & Market Trends : Dino's Bar & Grill

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From: Goose947/19/2013 9:15:26 AM
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Fancamp Exploration (FNC-V) sells three million Argex shares
www.fancampexplorationltd.ca

July 18, 2013 - News Release

Fancamp Exploration Ltd. has received gross proceeds of $2.1-million from the sale of three million shares of Argex Titanium Inc. to four arm's-length purchasers. The company still owns six million shares of Argex Titanium, after the sale announced today, with a market value of $6.84-million based on the closing price as of July 17, 2013.

Jean Lafleur, MSc, PGeo, president and chief executive officer of Fancamp, stated, "Fancamp is delivering on its promise made in December, 2012, to monetize its liquid assets and continues to unlock value for its shareholders."

Proceeds from the sale will be used by Fancamp for continued exploration activities and for general working capital purposes. A finder's fee equal to 5 per cent of the gross proceeds was paid to an arm's-length third party of the company.
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