- Fancamp (FNC) has closed the sale of its interests in Koper Lake-McFaulds mining claims to KWG Resources (KWG)
- The “Koper Lake-McFaulds” mineral properties include four “legacy” mining claims
- Fancamp received a $C34.5M convertible promissory note, warrants to purchase a total of 4,044,453 multiple voting shares of KWG and a 2.0 per cent net smelter return royalty
- Fancamp, a growing Canadian mineral exploration corporation, opened trading at C$0.12
- KWG, an exploration stage company, opened trading at C$0.035
Fancamp (FNC) has closed the sale of its interests in Koper Lake-McFaulds mining claims to KWG Resources (KWG).
Fancamp’s interest in the “Koper Lake-McFaulds” mineral properties includes four “legacy” mining claims that cover approximately four square kilometers.
The price paid to Fancamp for the purchase of the mining claims consisted of a secured convertible promissory note in the amount of C$34.5 million, warrants to purchase a total of 4,044,453 multiple voting shares of KWG; and a 2.0 per cent net smelter return royalty. KWG may purchase one-quarter of the royalty at any time for C$5 million.
Fancamp is a growing Canadian mineral exploration corporation focused on advancing its mineral properties through exploration and innovative development. Fancamp owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including chromium, strategic rare-earth metals, gold, zinc, titanium and more.
KWG is an exploration stage company that is participating in the discovery, delineation and development of chromite deposits in the James Bay Lowlands of Northern Ontario.
KWG Resources Inc. (KWG) opened trading at C$0.035.
Fancamp Exploration Ltd. (FNC) opened trading at C$0.12.