- Fancamp (FNC) has entered into a subscription agreement with NeoTerrex Corporation
- Fancamp has acquired 8,932,000 common shares of NeoTerrex
- A nominee of Fancamp will join the board of directors of NeoTerrex, A nominee of Fancamp will join the board of directors of NeoTerrex
- Fancamp is a growing Canadian mineral exploration corporation
- Fancamp Exploration Ltd. (FNC) is unchanged, trading at C$0.11 per share at 11:35 am EST
Fancamp (FNC) has entered into a subscription agreement with NeoTerrex Corporation as part of an oversubscribed brokered private placement.
Fancamp has acquired 8,932,000 common shares of NeoTerrex, representing approximately 15 per cent of the issued and outstanding shares of NeoTerrex.
A nominee of Fancamp will join the board of directors of NeoTerrex. Fancamp will play an active role in supporting the venture through its network and strategic relationship.
NeoTerrex Corporation is a private rare earth elements (REE) exploration company that is focused on developing exploration projects of high-grade critical rare earth oxides in Quebec. NeoTerrex is expected to go public in 2022.
Fancamp’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 their 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 is a growing Canadian mineral exploration corporation. The corporation owns numerous mineral resource properties in Quebec, Ontario and New Brunswick.
Fancamp Exploration Ltd. (FNC) is unchanged, trading at C$0.11 per share at 11:35 am EST.