VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2016) - Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) has entered into debt settlement agreements to settle a total of $144,619.64 of debt owed to certain insiders of the Company, inconsideration for the issuance of a total of 2,892,393 common shares at a deemed price of $0.05 per common share. The Company's choice to settle outstanding indebtedness with the issuance of common shares is part of its plan to move the company forward and in order to preserve its funds for operations. The issuance of common shares is subject to the approval by the TSX Venture Exchange and subject to a four month hold period.
About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of properties and related assets. Company policy over the years has been, and continues to be, to reduce risk by bringing in participating partners through sales or options. The resulting shares, cash payments and royalties have enabled the generation of income to continue the process and take advantage of opportunity.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
