Fancamp Announces Investment in EDM Resources Inc.

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VANCOUVER, British Columbia, Could 03, 2023 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX Enterprise Change: FNC) is happy to announce that it has entered right into a subscription settlement (the “Settlement“) with EDM Sources Inc. (“EDM“) (TSX Enterprise Change: EDM, OTC: SWNLF) as a part of the Firm’s non-brokered exhausting greenback and flow-through an oversubscribed personal placement for combination gross proceeds of over C$2,000,000 (the “Providing”) to take care of its strategic place within the Firm.

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Pursuant to the Settlement, Fancamp has subscribed to 390,000 items of EDM at a value of $0.50 per unit, every unit consisting of 1 frequent share of EDM and one share buy warrant, entitling Fancamp to buy one further frequent share of EDM (every a “Warrant Share”) at a value of $0.75 for every Warrant Share, till the date that’s 36 months from the closing of the Providing. Upon closing of the Providing, Fancamp holds 2,738,485 frequent shares of EDM, representing roughly 11.4% of the issued and excellent shares of EDM.

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This buy permits Fancamp to proceed to take care of its important place within the near-term zinc producer, as EDM advances its wholly-owned Scotia Mine, 60 kilometres north of Halifax, Nova Scotia. The present fairness capital increase is anticipated to be the final one earlier than the graduation of economic manufacturing which is anticipated in early 2024. Fancamp’s participation is a chance to take care of its place in an imminent producer at a low entry level and at a strategic second of pivot in EDM’s development story. Moreover, Fancamp acquires future upside with Warrant Shares priced simply outdoors of EDM’s 52-week buying and selling excessive. The outlook of demand for renewable applied sciences into 2030 might present upward stress on world zinc commodity costs. The zinc market is a rising crucial mineral area that Fancamp is happy to place itself in by way of its funding in EDM.                       

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About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a rising Canadian mineral exploration company devoted to its value-added technique of progressing precedence mineral properties by way of exploration and modern growth. The Company is concentrated on a complicated asset play poised for development and selective monetization with a portfolio of mineral claims encompassing over 158,000 hectares throughout Ontario, Quebec and New Brunswick, Canada; together with copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Company continues to determine close to time period cash-flow producing alternatives and in parallel goals to advance its investments in strategic mineral properties. Fancamp has investments in an current iron ore operation within the Quebec-Labrador Trough, a rare-earth components firm, NeoTerrex Company, along with an funding in a zinc mine deliberate to be restarted in Nova Scotia. The Company has future monetization alternatives from its Koper Lake transaction within the extremely sought-after Ring of Fireplace in Northern Ontario. Fancamp is growing an power discount and titanium waste recycling expertise with its superior titanium extraction technique. The Company is managed by a targeted management group with many years of mining, exploration and complementary expertise expertise.

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Additional info of the Company might be discovered at: www.fancamp.ca

Ahead-looking Statements

This information launch accommodates sure “forward-looking statements” or “forward-looking info” (collectively referred to herein as “forward-looking statements”) inside the that means of relevant securities laws. Such forward-looking statements embody, with out limitation, the closing of the Providing, the receipt of regulatory approval, completion of the Settlement, forecasts, estimates, expectations and aims for future operations which are topic to quite a lot of assumptions, dangers and uncertainties, lots of that are past the management of the Company. Ahead-looking statements are statements of truth that aren’t historic details or are occasions or circumstances that will happen or be achieved.

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Though Fancamp believes that the fabric elements, expectations and assumptions informing such forward-looking statements are cheap based mostly on info out there to it on the date such statements have been made, no assurances might be given as to future outcomes of such statements.

Such forward-looking statements contain identified and unknown dangers, uncertainties and different elements that will trigger precise occasions to vary materially from these anticipated in such forward-looking statements.

Readers are cautioned that the foregoing checklist of things will not be exhaustive. Statements together with forward-looking statements are made as of the date they’re given and, besides as required by relevant securities legal guidelines, Fancamp disclaims any intention or obligation to publicly replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case. The forward-looking statements contained on this information launch are expressly certified by this cautionary assertion.

For Additional Info

Tara Asfour,
Director of Investor Relations
+1 (604) 434 8829
tasfour@fancamp.ca

Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of
the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.